Subj : Market Action To : All From : Paul Rogers Date : Fri May 21 2004 05:45 pm


The key today was watching Volume on this options expiration day.
Volume rose modestly, from -20% below average to -17% below.  There's
just no enthusiasm on the Street, by either Bulls or Bears.  Prices were
above water all day, but bobbed around up and down, ending uninspiring.

Normally that's a condition we see deep in the summer.  The problem is
we're just a few points above a critical technical support line and
nobody seems to care.  If we sag below it, I'm going to be happy
straddling the fence with half my positions safely tucked away in
"cash".

The Saudi's agreed to boost production.  That was about the best news I
saw.

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

 _<__      __>_      _|__      _|__      _>__      _<__     05/17
 __|_      __>_      _|__      _<__      _>__      _<__     05/18
 _|__      __>_      _|__      __|_      __>_      _<__     05/19
 __|_      __>_      _<__      |___      __>_      _<__     05/20
 __>_      __<_      _<__      _|__      __>_      _<__     05/21

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 .... In the eyes of cats, all things belong to cats. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .