Subj : Market Action To : All From : Paul Rogers Date : Thu Jan 30 2003 05:53 pm


Yet another Distribution Day with Seller's in control.  Investors aren't
happy with the state of affairs.  I don't know what to say that hasn't
already been said, and I don't feel like "piling on".  I don't think
normal technical analysis has much sway in this kind of Market.  Frankly
this seems to me to be very like the precipitous drop we had back in
July when investors decided to leave the Market en masse until definite
steps were taken to arrest some of the crooks.  Investors had no
confidence in the Market then or now.

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

 <___      _>__      _|__      ___>      <___      __<_     01/24
 _<__      __>_      _|__      __>_      <___      __<_     01/27
 __<_      __>_      _|__      __>_      <___      __<_     01/28
 __<_      __>_      _|__      __>_      _|__      __<_     01/29
 _|__      __>_      _|__      __>_      |___      __<_     01/30

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

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