Subj : Market Action To : All From : Paul Rogers Date : Tue Sep 16 2003 05:26 pm

Paul to Street:  What?  You didn't believe the Fed last meeting, when
they said the same thing they said this time?  Or maybe you forgot?
Take a note!

Sigh...

Today was again uneventful until after the Fed announcement.  Why are
investors still waiting on the Fed?!  The Fed said pretty much the same
thing they said last time, they don't forsee any changes for several
months to come.  At that prices took off with enthusiasm.  My numbers
call it an "Accumulation" day, and that was basically based on the
afternoon's action.  Volume was up +11% above average--good but not
particularly remarkable.  Because volatility has been so low for the
past couple months the price change for significance has sunk from a
typical 26pts to 21pts, and today's change of 14pts was more than half.
That's a good sign that the Bulls aren't out to pasture, but if they
want to complete this flagpole formation they'd better get a whole lot
braver.

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

 _<__      _|__      __>_      __|_      __<_      ___>     09/10
 __<_      _|__      __|_      __|_      __<_      ___>     09/11
 __<_      _<__      __|_      __|_      __<_      ___>     09/12
 _<__      <___      __|_      _<__      __|_      ___>     09/15
 __>_      _<__      __|_      __<_      __|_      ___>     09/16

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:  08/12/03 S&P:    990
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
.... Knowledge is camouflage, it hides the reality beneath ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .