Subj : Market Action To : All From : Paul Rogers Date : Fri Feb 27 2004 06:09 pm


It would appear that the market was indecisive today, prices virtualy
unchanged, and volume -2% below average.  However, that is an increase
in volume compared to yesterday, -11% below average.  I got a look at
the intraday price & volume chart.  In late morning and just before the
close there were a couple of rapid drops, and those were accompanied by
the day's notable spikes in volume, not the increasing prices.  That's
an indication of selling activity.  Even if you didn't see the chart,
increasing volume without accompanying rising prices is bearish.

By the way, the only part of Greenspan's testimony the other day that I
thought was wrong was when he suggested the Congresscritters needed to
evidence the courage to make hard decisions.  That is a thoroughly
bipartisan quality--they'll never chance making a decision the public
will criticize them for.  Consequently, all the bad things he said would
result can be expected to happen.

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

 _<__      _|__      __|_      _<__      <___      ___<     02/23
 _<__      _|__      __|_      _<__      <___      ___<     02/24
 __<_      _|__      __|_      _<__      _|__      ___<     02/25
 __|_      <___      __|_      _<__      _>__      ___<     02/26
 __|_      <___      __|_      _<__      _>__      ___<     02/27

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 .... Thesaurus - dinosaur with a large vocabulary. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .