Subj : Market Action To : All From : Paul Rogers Date : Fri Jan 24 2003 06:43 pm

Well, I'm afraid my hopes for a Support Level at 875 were dashed today.
Prices plunged 26pts, significant in itself, on 20% greater than average
Volume.  That makes it a Distribution Day, without question.  Sellers
had their way with the Market today, and that's not good.

Clearly the Street sees itself in My Fair Lady, "Just you wait, 'enry
'iggins, just you wait".  Investors are being scared by the President's
rhetoric and prospect of war under these conditions.  Cash is dandy!
It's said the Administration believes the best way to get the economy
back on track is to get this war over as soon as possible.  As I said
when he proposed his stimulus package, he's bet the farm on his
strategies for these last two years.  Everybody knows what's at stake.

On a more hopeful note, I like the new SEC rule that mutual funds must
make their stockholder voting record public.  Mutual funds have a role
to play as stockholder proxies in advising corporate management
prudently when issues come to a vote.  Recent history suggests voting
for whatever management proposes isn't necessarily prudent.  Good for
Harvey Pitt, I don't buy the industry's claim that the public will
pester them, driving up expenses, either.  In any event, we pay the
expenses, not the mutual fund company!  If we want to know, so be it.

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

 _<__      _|__      _|__      __|_      _<__      ___>     01/17
 _<__      _|__      _|__      __|_      _<__      ___|     01/21
 _<__      _|__      _|__      ___|      _<__      ___|     01/22
 __<_      _|__      _|__      ___>      _<__      ___|     01/23
 <___      _>__      _|__      ___>      <___      __<_     01/24

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
.... This is NOT Burger King. You do not get it YOUR way. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .