Subj : Market Action To : All From : Paul Rogers Date : Fri Jun 27 2003 07:39 pm

This morning was a little bumpy, but after lunch it really got
interesting.  About 1PM EDT some news hit the wires and the NYSE slid
about 150pts.  Coincident with that volume, which is usually quiet
during mid-day, spiked up.  Clearly, some traders decided they wanted
OUT!

Now, my subject here is "Market Action".  I don't do much about stocks
individually, but since the S&P500 is chosen by S&P, and then by me, to
represent the broad Market in general, most stocks tend to move up or
down along with the S&P500.  If you're an active investor in stocks,
knowing the direction of "the Market" gives you a pretty good idea where
your stocks are going to go--as they say "Don't fight the tape!"  So I
haven't made much of applying the same sort of price and volume analysis
to individual stocks that I apply to the Market of stocks.

I think the average Main Street investor probably pays some attention to
the "Story", maybe a little to what they can comprehend of the company's
"fundamentals", and mostly to just the price.  I don't think most of
them think about the old "supply and demand equation" and how applying
that can help them be better investors.  But I hope as a result of my
commentary, you pay attention to what the interaction of price and
volume can tell you about the "enthusiasm" of investors for the stock.
You have to select your stock, and it plays a role there.  It also plays
a strong role in the price you pay and what you'll get when you SELL!

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

 _<__      _<__      __>_      _>__      <___      ___|     06/23
 __<_      _<__      __>_      _>__      <___      ___<     06/24
 _<__      _<__      __>_      _|__      <___      ___<     06/25
 __<_      _<__      __>_      _|__      _|__      ___<     06/26
 _<__      <___      __|_      _|__      _>__      ___<     06/27

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
.... One good turn........gets most of the blankets. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .