Subj : Market Action To : All From : Paul Rogers Date : Tue Jun 15 2004 06:42 pm 

Friday's "Market Monitor" on PBS' Nightly Business Report showed an
unuaual chart showing the DJIA over the past couple years denominated in
Euros.  European investors are considering investing in our stock market
and companies with that viewpoint.  With the continued weakness in the
dollar relative to the Euro the chart looks so different you might not
recognize it.  If you were an international investor you might think
twice.  The speaker said nobody he knows has been talking about this.
Well, this weekend I was reminded you read it here back in early
February!

The point is, understand when the APPARENT movement of the market is
really Bullish/Bearish, and when it's just monetary adjustment.  If the
dollar started strengthening, the market would fall.  If you're
investing internationally, just like investing in bond funds, you NEED
to understand when to add money and when to take it away.

As far as today went, it would have been "better" if the market closed
at 3PM, rather than 4PM.  Prices were above the line all day though.
Volume increased, but was still -3% below average.

Some inflation numbers came out today, and Greenspan was before the
Congresscritters for his renomination hearing.  That's just noise!  I'm
looking at what the market itself does--that's the sum total of all the
news, what investors think about it, monetary adjustments, everything.

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

 __>_      __>_      __|_      <___      ___|      __>_     06/08
 _>__      __>_      __|_      _<__      __|_      __>_     06/09
 __>_      __>_      __|_      _<__      __<_      __>_     06/10
 _<__      __>_      __>_      _<__      _<__      __>_     06/14
 __<_      __|_      __|_      _<__      __<_      __>_     06/15

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, paulgrogers@yahoo.com -o) http://www.angelfire.com/or/paulrogers /\\ Rogers' Second Law: Everything you do communicates. _\_V .... clap on (CLAP!CLAP!) clap off (CLAP!+a/++*...NO CARRIER ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .