Subj : Market Action To : All From : Paul Rogers Date : Wed Apr 28 2004 07:16 pm 

The market fell sharply in the first half-hour or so, and it got worse
from there.  Prices closed enough lower to be significant on its own,
and volume was +28% above average.  Even my conservative formula calls
that a "Distribution Day".  And that closes out any expectations of a
confirmation of last week's rally day.

The headlines I saw seemed to blame it on rising interest rates.  Should
that "news" shake the market?  I guess they had to write something.

Look, you should understand by now that almost all the daily headlines
are virtually meaningless.  Some of significant ones might have an
intermediate term influence.  What's really important about the
direction of the market is revealed by the numbers themselves.  My
charts show numbers going back a year ago January.  The numbers
themselves often involve 4-6 week moving averages.  If the news was
important, that's where it will show up.  Get good, useful formulas.
Keep your data current.  And finally, believe what they say!  Even if
you don't want to.

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

 ___|      _<__      __|_      ___>      _|__      __<_     04/22
 __>_      _<__      __|_      _>__      _>__      __<_     04/23
 __>_      <___      __|_      _|__      _|__      __<_     04/26
 __|_      <___      __|_      __<_      _|__      __<_     04/27
 (___      <___      _|__      ___|      <___      __<_     04/28

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: SELL       Date:  04/28/04 S&P:    1122
Winner or Loser:  Loser                 By:     -18

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 .... A fool and his money is my kind of customer! ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .