Subj : Market Action To : All From : Paul Rogers Date : Fri Feb 07 2003 06:18 pm


For about the first hour today the Market fell on higher volume.  Then
it slowed its rate of descent for the rest of the day.  Total Volume was
-8% below average.  So at least it wasn't a stampede.

The Market continues to fall, but that's no surprize.  Looking at the
charts, there might be some support at the previous lows around 800 and
775.  But, frankly, there's just not much interest among investors.
We're essentially in a free fall, by which I mean between war fears and
the economy influencing the business community, jobs and earnings, there
is little or no consensus right now what "fair market value" is or
should be within the time period the Street generally anticipates.

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

 __>_      __>_      _|__      __>_      _>__      __<_     02/03
 _|__      __>_      _<__      __|_      _>__      __<_     02/04
 _|__      __>_      _<__      __|_      _>__      __<_     02/05
 _<__      __>_      _<__      __|_      _|__      __<_     02/06
 _<__      __>_      _<__      _>__      <___      __<_     02/07

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 website(s):
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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