The ave. daily volatility (ADV) was over 4% quite a bit in Y2K!! Now, if we get a 3% move in a given day, we thinks it is a monster. Even as late as the 2002 bottoming process, the NDX was cruising over 3% ADV. Last year, the NDX started the year over 2% and finished a little over 1%. Where is Jim Carrey?? I hate the 4 hour windows.