Subj : Market Action To : All From : Paul Rogers Date : Thu Apr 29 2004 06:45 pm


Today wasn't much better than yesterday, really.  My formula calls it
another "Distribution Day"; two in a row.  The market tried to start and
end the day with rallies, but most of the day it was "slip-sliding away"
again.  Volume was 27% above average, nearly identical to yesterday's
heavy volume day.

If you want to hope for a bottom to all this, there was one at 1091 last
month.  You might dream of that being confirmed.  But why are you doing
that?  Quit looking for something you WANT to happen, deal with the
market as it is!  Your hopes just get in your way.

Especially if you're a Dollar Cost Averager you ought to be saying
"Burn, Baby, Burn!"  You want to pick up more shares at lower prices.
Certainly you shouldn't still be holding any risky positions--there's
been plenty of warning.  You should have cashed out of all those
positions.  With that cash, you should also be hoping for a future
opportunity for a little bargain hunting!  What's on your shopping list?

Just a reminder, the mini-charts below are showing you two things at
once about each of these six dimensions of market action.  The location
of the mark shows you my evaluation of today's position on a four-point
scale.  The mark itself shows you the direction of the short-term trend,
positive, negative, or flat.

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

 __>_      _<__      __|_      _>__      _>__      __<_     04/23
 __>_      <___      __|_      _|__      _|__      __<_     04/26
 __|_      <___      __|_      __<_      _|__      __<_     04/27
 (___      <___      _|__      ___|      <___      __<_     04/28
 _<__      _<__      _|__      ___>      <___      __<_     04/29

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 .... Cat bathing is a martial art. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .