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Parallel montage, for reasons of consistent nomenclature, is known in Metz's typology as an alternate syntagma. Here two more or temporally consistent narrative lines are interweaved through intercutting to establish simultaneity or consecutiveness between the two series and this larger series (A/B; A/B . . .) forms an autonomous segment.
This is best characterised by early cinema's famous 'last minute rescue,' where two alternating events, or ideas, are intercut, so that part of one is seen then part of the other - for instance the hero rushing to the rescue while the waterfall threatens to sweep the heroine to her certain doom. (Keaton's Our Hospitality, though D.W. Griffith's The Lonedale Operator, Way Down East and Birth of a Nation are all canonical examples).
In these cases each series is understood to be consecutive (this, then this) but the effect of their combination is to create the impression of simultaneity so that series one is understood to be happening at the same time as series two. Where a single narrative line is maintained other categories are developed,
This seems to be difficult in hypertext simply because its cinematic effect is conditional on a deadline, which often requires a determined ending. However it is not overly ambitious to describe any shopping cart enabled ecommerce site as operating like this - as I add to the cart then return to browse (a la amazon.com) there are two series produced which form such a segment.
Adrian Miles: Hypertext syntagmas: cinematic narration with links
A performative hypertext presented by Journal of Digital Information