Subj : Market Action To : All From : Paul Rogers Date : Wed Feb 11 2004 05:54 pm


It must be wonderful having everybody hanging on your every word like
that.  If you look at the intraday chart you can see almost the minute
by minute indicator of how the Street liked Greenspan's Humphrey-Hawkins
testimony to the House Finance Committee.  There were several jumps
higher on spikes in volume.

Prices closed up nicely, if not significantly, and volume ended higher,
+9.67% above the 30-day, 6-week moving average.  If it had been +10% the
combination of price and volume was sufficient my formulas would have
called it an Accumulation Day.  I'll let you make the call.  Let's see
how it goes from here.  This sort of thing can pass rapidly.  Greenspan
didn't say anything new or surprizing.  I still think a correction is
needed.

Greenspan warned the Congresscritters in Greenspanese they'd be sorry if
they didn't get the deficits under control right smartly.  But one of
the Republicans was heard to whine words to the effect, "but we HAVE to
spend the money, we don't have any choice."  How is it the Democrats
have the reputation for profligacy?

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

 __<_      <___      __|_      _|__      |___      ___<     02/05
 __|_      |___      __|_      _<__      _|__      ___<     02/06
 _|__      |___      __|_      _<__      _>__      ___<     02/09
 __>_      |___      __|_      _>__      _>__      ___<     02/10
 __>_      |___      __|_      __>_      __>_      ___<     02/11

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 .... Gravity isn't my fault. Hey, I voted for velcro. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .