Subj : Market Action To : All From : Paul Rogers Date : Thu Nov 06 2003 09:18 pm

The intraday price chart didn't look too bad, but volume was light, only
2% above average.  Volume has been light and stable, just the baseline I
was expecting, or hoping, to see.

Greenspan spoke today to the Securities Industry Association.  I pay
attention to him.  He said, "The odds ... do increasingly favor a
revival in job  creation," which is good news for investors, also for
the President's campaign.

But Greenspan, a lifelong Republican first appointed Fed chairman by
Ronald Reagan, strongly warned about the federal budget deficit,  $374B
in the just completed 2003 budget year and is projected to top $500B in
2004.  Greenspan said it could have "notable, destabilizing effects" on
future growth.  He recommends cutting government spending to deal with
the deficits rather than raising taxes.  "Tax rate increases of
sufficient dimension to deal with our looming fiscal problems arguably
pose significant risks to economic growth and the revenue base."
Greenspan once again urged the reinstatement of budget rules that
require any future tax cuts to be offset by either spending cuts or
increases in other taxes, a rule that would make it hard for Bush to
achieve one of his top economic goals, making the tax cuts permanent.

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

 __>_      <___      __|_      __>_      __>_      ___<     10/31
 __>_      |___      __|_      _>__      __|_      ___<     11/03
 _|__      |___      __|_      _|__      __|_      ___|     11/04
 _|__      >___      __|_      _|__      __|_      ___|     11/05
 __|_      >___      __|_      __|_      __|_      ___|     11/06

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:  10/01/03 S&P:    1018
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
.... When you are stuck in a hole, stop digging. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .