Subj : Market Action To : All From : Paul Rogers Date : Fri Apr 16 2004 05:45 pm


After a rocky start this morning, the market managed to do pretty well
today.  Prices stayed up modesty, but volume sank to just 3% above
average.  Buyers weren't very willing to pay up for stock.  Prices just
came up to the 50-day Moving Average, crossing above it would be
Bullish.  I tend to think it's presenting more of a challenge, in effect
asking the Street if it really feels that Bullish.  My Momentum chart is
hugging the line, a little above, a little below, but basically flat,
"|", as far as the trend goes.  I don't think so.

The price change was enough for my silly formula to pop a BUY signal,
after Selling two days ago.  So if you believe in numerical analysis,
you'd have to follow the signal.  It's just a small part of what I
consider, and on a day with a negative divergence between price and
volume?  Naw, I don't think so.  It performs far better when it has been
well above the line or well below, changes direction and crosses.  I
tend to ignore these dithering signals--they tend to whipsaw badly.

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

 __<_      __>_      __|_      |___      _<__      ___>     04/12
 <___      __>_      __|_      _<__      <___      ___|     04/13
 _<__      __|_      _|__      __<_      <___      ___|     04/14
 __<_      __|_      _|__      __|_      <___      __<_     04/15
 __<_      __|_      __|_      __>_      _<__      __<_     04/16

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:  04/16/04 S&P:    1134
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '02-'03 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 .... Custer had it coming ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .