Subj : Market Action To : All From : Paul Rogers Date : Fri Feb 20 2004 04:46 pm


This morning the market continued yesterday's slide, on "brisk" trading.
After lunch it tried to come back, barely got it's nose above water, and
gave it up as a bad idea.  Today was also an Options expiration day,
when the Street resolves its positions, individual investors had to do
that Wednesday to make sure their trades went through.  You've probably
heard of "triple-witching" days, when volume and volatility is high?
This was just one witch, and volume and volatility were below even
regular averages.  Without the expirations volume would probably have
been 5%-10% less.  The players aren't holding.  Why not?  My timing
signal is also falling, and I wouldn't be surprized to see a Sell signal
soon.  Don't tell me you're surprized.

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

 _|__      |___      __|_      _>__      _|__      ___<     02/13
 __|_      _|__      __|_      _>__      __|_      ___<     02/17
 _|__      _|__      __|_      _>__      _|__      ___|     02/18
 _|__      _|__      __|_      _|__      _|__      ___|     02/19
 _|__      _|__      __|_      _|__      _|__      ___|     02/20

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 .... When you get old, memory is the second thing to go. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .