Subj : Market Action To : All From : Paul Rogers Date : Fri Dec 19 2003 06:43 pm

The most notable thing about today's market was the volume, up 21% above
average.  Volume has been so subdued for the past 6 weeks or so, it
didn't take much.  But I wouldn't take this as evidence of Bullish
Enthusiasm, since it's an expiration day.  Monday it will be a different
story!  But once again, if we get the Santa Claus Rally be aware it's
usually only a short term phenomenon.  I think this is the sort of thing
we can use as a good SELLING opportunity.

Have you noticed what's been happening to crude oil prices?  They've
been climbing, and that's generlly NOT a good sign for the economy.

Every year I celebrate the New Year, or thereabouts, by updating my
"Tracking the Market" page on my website.  Since I keep two years of
data on my charts, so I can see at least the last year while I'm
evaluating the charts, my page will cover 2002 & 2003.  There now is
2001 & 2002.  Of course, there will be little change in my analysis of
2002.  I think this year I'll also include a longer term chart of the
market, so we can get a better view of where we've been and where we've
come back to.  As I pointed out a while back, even with a historic Bear
Market this amounts to a 10% compounded gain since I began my charts in
1994, nearly 10 years ago.  So, look for it!

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

 _>__      _>__      __|_      __<_      _|__      ___|     12/15
 __|_      _>__      __|_      __|_      __|_      ___|     12/16
 __|_      _|__      __|_      __|_      __|_      ___|     12/17
 __>_      _|__      __|_      __|_      __|_      ___|     12/18
 _>__      _|__      __|_      ___>      __>_      ___|     12/19

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:  11/24/03 S&P:    1052
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
.... Gee! How'd you ever get it to do THAT? ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .