Subj : Market Action To : All From : Paul Rogers Date : Fri Aug 06 2004 05:10 pm


"Job Growth Meager, Markets Stunned", "Stocks Fall on Data, Indexes at
Year Lows", "Treasuries Rally on Weak Job Growth", "Oil Scales New Highs
on YUKOS Cash Crunch", "Halliburton Accused of Accounting Fraud"!

With headlines like that you can be sure the market was even uglier
today.  Prices dropped at the open and fell out of the year-long trading
range--we're "working without a net" now.  Volume rose to +8% above
average.  That's not enough for my formula to call it a "Distribution
Day", but it was anyhow.  The drop in price was enough to be significant
all on its own.  The ratio of Up-volume to Down-volume was 1:5.  What
that means is sellers were saying, "I don't care if the price is lower,
show me the money."

In an interview heard I the Secretary of Labor say, "Job growth was in
the high-skilled jobs, workers need to get training & improve their
skills."  Note to Elaine Chao: "You are overlooking the need for natural
talent.  My experience in my career is some have the talent to do well
and others don't, no matter their training."  I'll never get trained to
be a concert pianist anyone will want to listen to.  Now, where can I
get the training to take 30 years off my age?

I've warned before about separating one's political loyalties from one's
investing strategies and judgements for days just such as this.  The
market is not swayed by the campaign trail.

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

 __>_      _<__      _|__      _|__      __>_      __<_     08/02
 _>__      _<__      _|__      _|__      __>_      __<_     08/03
 _|__      <___      _|__      _|__      _|__      __<_     08/04
 <___      _<__      _|__      _|__      _<__      __<_     08/05
 <___      _>__      _|__      __|_      _<__      __|_     08/06

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 .... This is NOT Burger King. You do not get it YOUR way. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .