Subj : Market Action To : All From : Paul Rogers Date : Tue May 13 2003 08:02 pm

Well, prices dropped about 3pts, volume was right at average, and the
Advance:Decline ratio was 1614:1646.  That's about as flat as it gets.

I wouldn't say that's bad news for the Bulls, but I think it does mean
we should watch closely.  This might be a good time for a correction,
and that wouldn't necessarily be bad news for the Bulls.  Corrections
can be healthy for a nascent Bull Market.  The most interesting of the
possibilities now would be the possibility of a dead-flat Market here.
This 945 level was a previous Resistance Level, and often when these are
penetrated they become a Support Level.  Bouncing along that as a
Support Level would tend to reinforce that impression.

Now, it's a really BAD idea to get too committed to any one outlook on
the Market.  But I think it can be a good idea if we consider possible
outcomes, and reflect on what our strategy and tactics dictate in all
those possibilities.  If you know ahead of time what you should do as
things unfold one way or the other, you can be better prepared to act
decisively when you should, rather than dither.  The more I study the
Market the more circumstances I come upon where at any particular point
the right action might be buy, sell OR hold!

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

 _|__      _>__      __>_      __|_      __|_      ___>     05/07
 _<__      _|__      __>_      _|__      __<_      ___>     05/08
 __<_      _<__      __>_      _>__      __<_      ___>     05/09
 __>_      _<__      __>_      _>__      __|_      ___>     05/12
 _>__      _<__      __>_      _|__      __|_      ___>     05/13

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
.... ntEorpy sI wayAls crInseasing ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .