Subj : Market Action To : All From : Paul Rogers Date : Wed Jan 22 2003 05:42 pm

Much is being made today that the DJIA and S&P500 have given up all
their gains for 2003.  Geez Louise, it's only been 3 weeks!  Doesn't
anybody reporting the financial news have enough experience to know what
is important and what's just noise?  This ain't news:  the Market hasn't
worked it's way out of the Bear Market yet!

We also hear some CEO's can't predict business improving this year
enough for them to proceed with additional capital expenditures.  I
wonder how long these guys have been CEO's.  Do they expect business to
always be like the Roaring 90's?  Or is it that their contracts base
their compensation so much on options and "share holder values", i.e.
stock price, that they're grumpy with the Market being so low?  Scrap
the "get rick quick" options tied to stock prices and pay everyone a
good living wage so they can take a long term approach to business
development.  Options in lieu of pay are inherently dishonest:  "Instead
of money we're going to give you these things that don't cost us and you
can get your compensation by selling these things to someone else--we'll
have THEM pay you!  We think that's a neat idea."  Where does that place
the employee's loyalty?

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

 _<__      _>__      __|_      __>_      __|_      ___>     01/15
 _<__      _>__      __|_      __>_      __|_      ___>     01/16
 _<__      _|__      _|__      __|_      _<__      ___>     01/17
 _<__      _|__      _|__      __|_      _<__      ___|     01/21
 _<__      _|__      _|__      ___|      _<__      ___|     01/22

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: SELL       Date:  01/17/03 S&P:    902
Winner or Loser:  Loser                 By:     -7

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
.... American kids have Ninetendo, Japanese kids have homework ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .