Subj : Market Action To : All From : Paul Rogers Date : Tue Jun 01 2004 07:58 pm 

If the extent of the public's attention to the market was just the
closing prices mentioned by the broadcast media in passing, they would
have gotten entirely the wrong impression of today's action.  It was
basically unchanged, thanks to a rally in the last hour.  Most of the
day the market fell, as crude oil prices rose sharply to over $1/gal in
the wake of another al-Qaeda attack in Khobar, Saudi Arabia.  You know
volume is also inportant.  It rose modestly from Friday's "holiday
light", but still -18% below average.  No enthusiasm on the Street.

It's beginning to look to me like prices are unable to make any further
head-way, and this two week rally may be topping out.  This isn't 2003,
in case you haven't noticed.

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

 ___>      _<__      __|_      __|_      ___>      _|__     05/25
 __>_      _<__      __|_      _|__      ___>      _>__     05/26
 __>_      _<__      __|_      _|__      ___>      _>__     05/27
 _>__      _<__      __|_      <___      ___>      __>_     05/28
 __|_      _>__      __|_      _<__      ___|      __>_     06/01

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:  05/25/04 S&P:    1113
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 .... If your mind goes blank, remember to turn off the sound ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .