Subj : Market Action To : All From : Paul Rogers Date : Thu Jan 16 2003 05:11 pm

I see the SEC is tightening the rules on "pro-forma" earnings reports
companies release to the public--that's good.  You don't know what
"pro-forma" means?  It means "We're going to tell you what we should
have, could have made if it hadn't been for some expenses we really want
you to ignore and we won't talk about until we have to quietly submit
our 10Q's."  Now at least they're supposed to explain why these numbers
are different than the Generally Accepted Accounting Practice numbers.

The Financial Accounting Standards Board, FASB, is also tightening the
rules on the "Special Purpose Entities" that Enron used so "creatively".
Speaking of which, the FERC finds that the energy and utility industry
is in a complete shambles.  There is now an excess of generation, making
the market weak and a money-losing proposition for companies--but nobody
is willing to invest anything in fixing it anyway.  Deregulation has
bolixed it all up.  "Oh, frabjous day!"

And the OMB says the deficit is going to run to $300B.

Who's minding the store?!?!?

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

 _|__      _>__      __|_      __<_      __<_      ___>     01/10
 _|__      _>__      __|_      __|_      __|_      ___>     01/13
 __>_      _>__      __|_      __>_      __|_      ___>     01/14
 _<__      _>__      __|_      __>_      __|_      ___>     01/15
 _<__      _>__      __|_      __>_      __|_      ___>     01/16

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
.... It did what? Well, it's not supposed to do that. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .