Subj : Market Action To : All From : Paul Rogers Date : Fri May 16 2003 08:05 pm


It's beginning to look like the Market is "afraid" of the 950 level.
Over the past week, everytime it started a rally and approached, it
quickly turned around.  Today prices rose in the first few minutes then
turned around and quickly fell out of bed.  They gradually came back
until mid-afternoon, then fell again.

Apparently today's culprit was a report of deflation of consumer prices.
Those of us who remember the stagflation of the early 80's have bad
memories of out-of-control inflation, but deflation can be every bit as
bad!  I've been warning of that possibility throughout this Bear Market.
Corrections and Bear Markets aren't the only, or worst, dangers we face
as investors.

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

 __>_      _<__      __>_      _>__      __|_      ___>     05/12
 _>__      _<__      __>_      _|__      __|_      ___>     05/13
 _>__      _<__      __>_      _|__      __|_      ___>     05/14
 __|_      _<__      __>_      __|_      __|_      ___>     05/15
 _<__      _<__      __>_      __|_      __<_      ___>     05/16

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

.... Steam that blows a whistle never turns a wheel. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .