Subj : Market Action To : All From : Paul Rogers Date : Fri Jan 10 2003 05:31 pm

At the open the Market gapped down 10pts, then it turned around and
gained 17pts on better than normal Volume, and then it waffled around
for the rest of the day to close virtually the same as yesterday.  Now,
when I say "better than normal Volume" during the rally, I'm talking
about as compared to the normal intra-day progression of trading.
Normally trading volume in 5-min intervals has a "U" shape.  Overnight
orders are filled as soon as possible after the opening, and the big
money managers do most of their trading just before the close. I wasn't
saying that Volume increased as Prices rose, that would really be
positive as you should know by now.  Today Volume didn't fall off as
fast as it usually does.  That's the way it is these days with intraday
trading.  Total Volume for the day was a little less than yesterday, and
total Volume is a little more reliable indicator for trend analysis.

It was reacting to unemployment and North Korean news, but that's the
story--it's still reacting to the day to day news stories.  There is no
"confidence" in the Market.  Earnings reports will be coming in soon.
We'll see then.

Price     Vola-     Momen-    Volume    Oscil-    Summ.
Change    tility    tum                 lator     Index
 -__+      -__+      -__+      -__+      -__+      -__+

 __>_      |___      __|_      __<_      ___>      ___|     01/06
 _>__      |___      __|_      ___<      __>_      ___|     01/07
 _>__      >___      __|_      __<_      __|_      ___>     01/08
 __>_      _>__      __|_      ___<      __|_      ___>     01/09
 _|__      _>__      __|_      __<_      __<_      ___>     01/10

Timing Signals:  I don't use or recommend timing signals, but they're
fun to watch.  If I did though, well, I might use something like this.
(Be warned!!  It tends to whipsaw around signal points!)

Last Signal: BUY        Date:  01/02/03 S&P:    909
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '01-'02 and my investment strategy
study at my websites:
http://www.xprt.net/~pgrogers/Pers.html
http://www.angelfire.com/or/paulrogers/Pers.html
http://www.geocities.com/paulgrogers/Pers.html
.... If you don't make waves, you're not underway yet. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .