Subj : Market Action To : All From : Paul Rogers Date : Thu Jun 26 2003 07:55 pm


The Market turned around today, up about half-way to being significant.
But volume was -7% below average.  So basically there weren't a lot of
sellers, buyers had to bid more to get what they wanted, but they
weren't enthusiastic about buying.

Not only do we have money managers wanting to lock-in some profits, but
we have the confession season coming in advance of earnings
announcements.  I think the liklihood is for "price weakness" for the
next few weeks.  And then we're into high summer, when the Market
usually sags.  MainStreet may be on vacation, but that looks to me like
it might be a buying opportunity, if the economy improves.

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

 __<_      _<__      __>_      __|_      _<__      ___|     06/20
 _<__      _<__      __>_      _>__      <___      ___|     06/23
 __<_      _<__      __>_      _>__      <___      ___<     06/24
 _<__      _<__      __>_      _|__      <___      ___<     06/25
 __<_      _<__      __>_      _|__      _|__      ___<     06/26

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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