Subj : Market Action To : All From : Paul Rogers Date : Fri May 30 2003 09:16 pm

Today we got an "Accumulation" day.  Prices were more than half-way to
being significant on their own, and volume was more than +10% above
average, 16% actually.  NBR said some of the action was Bears covering
their shorts, but I don't have "short interest" data on a daily basis.

You'll remember a couple weeks ago I mentioned my average volume seemed
to have hit a resistance level at 1400Ms.  It has broken through in the
past few days and is now approaching 1450Ms.  If this is going to be the
start of a new Bull Market, instead of just another Bull Trap, then we
need volume to show us increasing enthusiasm.  Even in Bull Markets
there are corrections though.  I'd still like to see one.

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

 __>_      <___      __|_      _>__      __>_      ___|     05/23
 __>_      <___      __|_      __>_      __>_      ___|     05/27
 __>_      |___      __|_      __>_      __>_      ___|     05/28
 _>__      |___      __|_      __>_      __|_      ___|     05/29
 __>_      >___      __|_      __>_      __|_      ___|     05/30

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
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