Subj : Market Action To : All From : Paul Rogers Date : Mon Feb 10 2003 10:25 pm

There could hardly have been a more perfect picture of the Market's
short term outlook than today's Market Action.  Just before noon the
news hit that Iraq gave another inch--they'll allow surveillance over-
flights by U2's.  The Market began rising, and volume spiked.  Clearly
it was a sign that war worries are the principal factor in the Market's
short term behavior.  But total daily Volume was 10% below average.  So
Price were up, and we ask "Did you mean it?"  Volume says, "No, we're
still scared."

Now, is there ANYBODY who wouldn't be expecting a rally when the war
actually starts and the uncertainty is finally over?  Of course, they
expect another whirlwind, or as they call it in that part of the world,
a "djinn".  Then, no matter what happens, the reality will set in.  What
are you going to do about it?

One thing about the Market: when everybody knows something is going to
happen, it's all discounted ahead of time and it doesn't.  So stick with
your strategy!

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

 _|__      __>_      _<__      __|_      _>__      __<_     02/04
 _|__      __>_      _<__      __|_      _>__      __<_     02/05
 _<__      __>_      _<__      __|_      _|__      __<_     02/06
 _<__      __>_      _<__      _>__      <___      __<_     02/07
 __|_      __|_      _<__      _>__      _|__      __<_     02/10

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
.... This tagline ALWAYS lies. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .