Subj : Market Action To : All From : Paul Rogers Date : Thu Jul 24 2003 07:04 pm

As you can see below, the Market resumed its losing ways today.  It
didn't start out that way.  Everything was just hunky-dory until 2PM,
and then something pulled the rug out!  Prices fell like a rock--with
enthusiasm!  Traders (and some scared investors) ran for the door, and
they weren't shy about discarding stock with abandon.  Volume kicked up
immediately and stayed high till the Market closed.  At the close volume
was up +11% above average.  The 7pt price drop wasn't enough for my
formulas to call it a "Distribution Day", 11pts, but the behavior in the
last two hourse definitely qualified.  I looked online for some headline
that hit at that time, but couldn't find anything.

The rally is OVER, get over it!  No, I still don't have a crystal ball,
but it doesn't take one of those to understand behavior like this.

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

 __<_      <___      __|_      _|__      <___      ___<     07/18
 _<__      |___      _|__      _<__      <___      ___<     07/21
 __<_      |___      __|_      __<_      |___      ___<     07/22
 __|_      |___      __|_      _<__      |___      ___<     07/23
 _<__      |___      __|_      __|_      |___      ___<     07/24

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:  07/22/03 S&P:    988
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
.... It did what? Well, it's not supposed to do that. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .