Subj : Market Action To : All From : Paul Rogers Date : Tue Apr 13 2004 05:59 pm


According to an AP poll, by nearly 2 to 1 Americans would PREFER a
balanced budget than more tax cuts.  Slightly less, but still over 60%
think a balanced budget is more IMPORTANT than tax cuts.  Most figured
out the tax cuts weren't benefitting them, and said they were paying
MORE taxes.  (I saw the news on my My-Yahoo page.)  I guess the American
public isn't as dumb as advertized.  I wonder if "anybody" is listening.
You know what happens when you go against the electorate?  (YAOTBP)

Today the market got CREAMED!  Prices fell, unimpeded all day.  My
timing signal nearly popped a Sell signal, but not yet.  Volume
increased nearly 30% over yesterday's ostensibly positive day, but still
was just average.  That's not enough for my conservative formula to call
it a Distribution Day, but you should know by know that's a bad sign.
The ratio of Up Volume to Down Volume was 1:8, Advancers to Decliners
1:7! I guess sometimes the inferences pan out.

It looks to me like the market has created pretty definite resistance
for itself at the 1160 level.  I wouldn't be looking for any cow-pies on
the Street.

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

 _>__      __<_      __|_      _|__      __<_      ___>     04/06
 _>__      __|_      __|_      __|_      __<_      ___>     04/07
 _<__      __>_      __|_      _|__      _<__      ___>     04/08
 __<_      __>_      __|_      |___      _<__      ___>     04/12
 <___      __>_      __|_      _<__      <___      ___|     04/13

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:  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 .... 90% of the time I'm right, why worry about the other 3%? ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .