Subj : Market Action To : All From : Paul Rogers Date : Mon May 24 2004 07:20 pm


Prices gapped higher at the opening, it's said because of the Saudi oil
exports.  But once again reality intruded.  That's not enough.  It's not
the only problem.  So the rally soon failed and stocks basically fell
the rest of the day.  But investors continue to be unenthusiastic.
Volume remained low, -19% below average.

So prices continue to dodge the 200-day moving average.  Normally this
level would be considered to be support and stimulate buyers.
Considering the overall lack of interest by investors, I'm guessing it's
just a matter of time.  And that's likely to stimulate sellers!

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

 __|_      __>_      _|__      _<__      _>__      _<__     05/18
 _|__      __>_      _|__      __|_      __>_      _<__     05/19
 __|_      __>_      _<__      |___      __>_      _<__     05/20
 __>_      __<_      _<__      _|__      __>_      _<__     05/21
 __>_      _<__      _|__      _|__      ___>      _|__     05/24

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 .... Support the 2nd Ammendment: Join the National Guard. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .