Subj : Market Action To : All From : Paul Rogers Date : Tue Feb 03 2004 05:12 pm 

When you were a kid, did you ever have one of those inflatable clown
toys that kept popping back up when punched, because it was weighted on
the bottom with sand?  That's sort of how the market did today.  It
started out about flat, got knocked down and immediately came back
several times.  But it never managed to get much above the line.  In the
end, it closed about flat, but volume was -8% below this year's average.
So there wasn't much enthusiasm either buying or selling.

Q4 earnings are nearly done.  It's a long time till Q1 earnings.  What
is there to drive the market higher?  I'm afraid it's going to be
awfully easy for investors to turn cautious, if not frightened at these
levels.  This past week could be the crack in the wall they need to
"take the money and run".  There HAS been a lot of stock moved recently.
And this is the way the floor traders move their own stock, satisfying
demand but no more, lest it drive prices down.  Be careful!

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

 <___      _<__      __>_      __|_      _<__      ___|     01/28
 __<_      _<__      __|_      __|_      <___      ___|     01/29
 _<__      _<__      __|_      __>_      <___      ___|     01/30
 __<_      _<__      __|_      _>__      _<__      ___<     02/02
 __|_      <___      __|_      _|__      _|__      ___<     02/03

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
Paul Rogers, paul.rogers@angelfire.com -o) http://www.angelfire.com/or/paulrogers /\\ Rogers' Second Law: Everything you do communicates. _\_V .... Cat (KAT') n. Dog with an attitude problem ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .