Subj : Market Action To : All From : Paul Rogers Date : Fri Jun 25 2004 07:43 pm


In the first 90 minutes prices rose, but by half-way through the lunch
hour it had given it all back.  That's not encouraging.  Then prices
bounced along unchanged until 2PM, and then they fell off a cliff!
Volume spiked during the sell-off and continued high for the rest of the
session as prices wavered.  In the end volume was up +38% above average!
That makes this a day to pay attention to--what was announced at 2PM?
I'm not sure but whatever it was, it scared the Street.  My formulas
didn't call this a "Distribution" day because prices recovered just
enough after the sell-off.  The common definition would call it a
distribution day.

I don't think the Street is very confident about the near term.

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

 _|__      _<__      __>_      _<__      __|_      __>_     06/21
 __|_      _<__      __>_      __<_      __|_      __>_     06/22
 __|_      _<__      __>_      __<_      __|_      __>_     06/23
 _|__      <___      __>_      __<_      __|_      __>_     06/24
 _|__      <___      __|_      ___<      __|_      __>_     06/25

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 .... Remember when unsafe sex was being caught in the act. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .