Subj : Market Action To : All From : Paul Rogers Date : Thu Jan 15 2004 05:49 pm


The DJIA gapped higher at the open, then sold-off for the next hour.  It
got back up to where it started by mid-afternoon and then trailed off
slowly into the close.  As you can see below, volume was up for the day.

Once again, I'm not sure what's going on, but something is.  It's making
me jumpy.  If I had any positions that might hurt me, I wouldn't have my
finger far from the trigger.  If I had some nice juicy profits, I'd be
harvesting!  I'm afraid all this volume, with price action stalled at
this 1130 level, is careful distribution--meaning the big money investors
are expecting a correction.  And they can make it happen!  I'm not at
all sure Q4 earnings can beat expectations enough to drive prices still
higher.

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

 _<__      __>_      __>_      ___>      __<_      ___>     01/09
 __<_      __|_      __>_      __>_      __|_      ___>     01/12
 _<__      __<_      __>_      __>_      __|_      ___>     01/13
 __<_      __<_      __>_      __>_      __|_      ___>     01/14
 __|_      __<_      __>_      ___>      __|_      ___>     01/15

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

.... Dammit Jim, I'm a doctor not a ... oh. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .