Subj : Market Action
To : All
From : Paul Rogers
Date : Wed Jul 07 2004 06:41 pm
This morning prices rose sharply for a hour or so, and spent the rest of
the morning giving it all back. It nearly happened again in the
afternoon, but the session ended too soon. So prices were up a bit, and
volume rose a bit, to 1% above average.
When buyers start a little rally and sellers immediately sell into it,
that tells us something about the attitude of investors. I've mentioned
the "congestion" of the 20-day, 50-day and 200-day Moving Averages--it's
a continuing concern. They're all in a range of only 35pts, and prices
today are right in the middle!
Ken Lay has finally been indicted. If he didn't know what was going on,
as he claims, and trusted the assurances of the executives who were
actually running the scams, then he ought to be indicted for criminal
gullibility and negligence of the duties of a CEO.
Price Vola- Momen- Volume Oscil- Summ.
Change tility tum lator Index
-__+ -__+ -__+ -__+ -__+ -__+
__|_ <___ __|_ __|_ __|_ ___> 06/30
_|__ <___ __|_ __|_ __|_ ___> 07/01
_<__ <___ _|__ _|__ __|_ ___> 07/02
_<__ |___ _|__ _|__ __|_ ___> 07/06
__<_ |___ _|__ __|_ __|_ ___> 07/07
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: 07/02/04 S&P: 1125
Winner or Loser: Winner By: +12
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
.... Press -- to continue ...
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* Origin: The Bare Bones BBS (1:105/360)
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