Subj : Market Action To : All From : Paul Rogers Date : Fri Jul 30 2004 06:47 pm


The market did little today.  S&P prices traded in a very tight range,
but volume fell to -8% below average.  So volume tells us there was
little enthusiasm on the Street.  As you can see below the Oscillator
has moved above the zero line.  That's a reflection of recent positive
behavior of the Advance-Decline line.  But that's just a short-term
secondary indicator.  It tends to confirm that the little rally we've
seen over the past week COULD BE more than just a stutter on the way
through the bottom of this year's trading range.  It's one reason I
dared to suggest prices could POSSIBLY move back across the formation.
But as I warned a couple days ago, be wary of treating this as an
investing opportunity--it's for short term speculators only.

What do you know about Krispy Kreme?  Remember Boston Chicken?  If
you're buying or selling stocks I think you should study IPO's like this
so you understand the normal "progress" of these things.  I wonder if
the people who bid on Google understand what usually happens to IPOs.

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

 _<__      __>_      _<__      __>_      <___      ___<     07/26
 __|_      __|_      _<__      __>_      _<__      __<_     07/27
 __>_      _|__      _<__      __>_      _|__      __<_     07/28
 __>_      _<__      _<__      __>_      _>__      __<_     07/29
 __>_      _<__      _|__      _>__      __>_      __<_     07/30

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 .... Yeah, but what's the speed of DARK? ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .