Subj : Market Action To : All From : Paul Rogers Date : Thu Aug 19 2004 04:53 pm


The market didn't seem overly concerned that crude prices reached $48.75
today.  Prices were off -4pts, while it would have taken nearly -15pts
to be significant.  Volume fell a little, to -8% below average.  There
is certainly no sign of panic at the prospect of $50/bbl crude.  Perhaps
there should be more concern.

By the way, run away from anyone you hear talking about a "summer
rally".  There is no such thing.  They're trying to trick you.  "Summer
doldrums" is the way of things.

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

 __|_      __>_      _<__      _<__      _|__      __<_     08/13
 __>_      __>_      _|__      _|__      __>_      __<_     08/16
 __>_      _|__      _|__      _|__      __>_      __<_     08/17
 __>_      _|__      _|__      _|__      __>_      __<_     08/18
 _>__      _<__      _|__      _|__      __>_      __|_     08/19

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 .... Be careful what you wish for, you might get it. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .