Subj : Market Action To : All From : Paul Rogers Date : Fri Feb 13 2004 07:22 pm 

This morning the market slipped again, but then flattened out and just
basically stayed there all day.  Volume was -17% below average.

Where are the buyers?  We can't have a Bull Market without enthusiastic
buyers!

In the past month we've created a "Double Top" formation, and that's a
bearish formation.  A double top we couldn't penetrate was the final
technical formation before the Bear Market began in 2000, but that time
there was about 4 months between the tops, and the broader it is the
more significant.

I still think we "need" some sort of "basing" formation for this market
to make healthy advances.  It could be something like last summer's flag
formation, a 10% correction, or an extended horizontal trading range.
But as we now know, it's dangerous when the market runs too far too
fast.  I want a nice stable market.

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

 _|__      |___      __|_      _<__      _>__      ___<     02/09
 __>_      |___      __|_      _>__      _>__      ___<     02/10
 __>_      |___      __|_      __>_      __>_      ___<     02/11
 _>__      |___      __|_      _>__      _>__      ___<     02/12
 _|__      |___      __|_      _>__      _|__      ___<     02/13

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 .... Success comes in a can. Failure comes in a cannot. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .