Subj : Market Action To : All From : Paul Rogers Date : Thu May 22 2003 06:48 pm

I saw a headline today attributing the moderately positive action to
Congress' action on the tax-cut bill.  I'm not sure the Congresscritters
deserve so much approbrium.  Show me one who isn't willing to pander to
the electorate in an election year by taking a "principled stand on
lower taxes".

I don't see anything out of the ordinary for a rally in difficult times.
If your time frame is relatively short, you ride with it but never get
complacent.  Longer term investors just enjoy seeing their balances
going the other direction for a change.  Nobody should panic if we get
the correction--it's expected.  Just do what your strategy dictates.
Remember that summer is coming, and the Market traditionally has some
trouble.  But this year with Main Street more or less out of the Market,
the professionals might have their way with it.  When Main Street
returns from vacation and finds the Market doing well, they'd have to
pay up for it--that wouldn't disappoint the traders.  It wouldn't
surprize me if it drifted a little lower, or a little higher.

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

 _<__      _<__      __>_      __|_      __<_      ___>     05/16
 <___      <___      __>_      _|__      _<__      ___>     05/19
 _<__      <___      __>_      __|_      _<__      ___>     05/20
 __<_      <___      __|_      __>_      _<__      ___>     05/21
 __<_      <___      __|_      __>_      __|_      ___|     05/22

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
.... No. Try not. Do, or Do not. There is no try. Yoda ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .