Subj : Market Action To : All From : Paul Rogers Date : Fri Apr 02 2004 06:18 pm


"Dem Dry Bones"  "De CEO pay connected to da options.  Da options
connected to de stock price.  De stock price connected to de market.  De
market connected to da economy.  Da economy connected to employment.
Da employment connected to CEO.  Now hear de word of de Lord."

Today's employment report of 308K jobs, much higher than predicted or
even whispered, seemed to encourage the Street today.  Right after the
open the market jumped almost 10pts and hung around the 1140 level all
day.  For a change, volume was noticably higher all day, up +11% at the
close.  The combination was good enough for my formula to call it an
"Accumulation" day with buyers unafraid of driving prices higher.  This
is a welcome "convergence" with Tuesday's Buy signal.  The timing
signal, much like prices, took a charge at the line right from the
bottom and charged through with just slight stutter Wednesday.  It's
more reliable when it does that, instead of sneaking up to the line and
dithering back and forth.

We've got another 20pts to go back up for a retest of the 1160
Resistance Line, so I wouldn't get too enthusiastic.  But we should have
heard most of the confessions now and Q1 earnings are expected to be
good.  Those expectations can be dangerous--they are so often
unrealistic.  But this correction looks to have been about a month long.
I hope the market will be better off for it.

Remember, if you're going to play the market, document your moves!

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

 __>_      __|_      _<__      _|__      __>_      __<_     03/29
 __>_      __<_      __|_      _|__      __>_      __<_     03/30
 _>__      __<_      __|_      __|_      __>_      __<_     03/31
 __>_      __<_      __|_      __|_      __>_      ___<     04/01
 __>_      __<_      __|_      __|_      __>_      ___|     04/02

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:  03/30/04 S&P:    1127
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 .... The haves and have-nots come from the dos and do-nots. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .