Subj : Market Action To : All From : Paul Rogers Date : Wed Apr 09 2003 06:46 pm

Prices fell a little today, and Volume was -8% below average.  So there
was no stampede today.  Once again it seems there was a lack of willing
buyers.  But it probably was a "worse" day that it appears.  There was
some significant volume just before the close, when the conventional
wisdom says the Street professionals are squaring their books for the
night.  And the lack of willing buyers meant prices fell sharply.  The
ratio of Up-Volume to Down-Volume for the day was 1:3, so sellers were
determined if not panicky.

Well, it hasn't been making the news lately but it's about time for
earnings reports--nobody heard the confessions over the past few weeks.
Apprehensions over earnings is enough to spook the Street.

The Street is probably wise to ignore the rejoicing on the Streets in
Baghdad.  Those people have lots of experience presenting spontaneous
demonstrations in favor of whoever is in power.  When the apparent power
structure says "jump", all they ask is, "How high?"

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

 _>__      __|_      __|_      __>_      __|_      __>_     04/03
 __>_      __|_      __>_      _>__      __>_      __>_     04/04
 __>_      __<_      __>_      __>_      __|_      __>_     04/07
 _|__      _<__      __>_      _|__      __|_      __>_     04/08
 _<__      _<__      __>_      _|__      __|_      __>_     04/09

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: BUY        Date:  04/01/03 S&P:    858
Winner or Loser:  tbd                   By:     tbd

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
.... Faster Hosses, Younger Wimmen, Older Whisky, More MIPS... ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .