Subj : Market Action To : All From : Paul Rogers Date : Tue Oct 05 2004 05:59 pm


The market made some moves today, but, if you look at the scale, the
total range was only about 6pts, 3 on either side--hardly exciting.  Oil
closed over $51/bbl, and that IS exciting, if not particularly good
news.  Wasn't an oil man in office supposed to prevent this?  So prices
were unchanged and volume declined yet again, now +13% above average,
and it was about 8:5 on the downside.  It looks like momentum is leaving
this move.  Last week was more about "selling into strength" than a real
run at a new Bull Market.

If the Bulls can't make a better showing than this it's going to
reinforce the impression of weakness in the market and "power" of this
slowly fading trading range.

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

 __|_     <___     __|_     __|_     _|__     ___|     09/29
 _|__     <___     __|_     ___>     _|__     ___|     09/30
 ___>     <___     __|_     ___>     __>_     ___|     10/01
 __>_     |___     __|_     ___>     __>_     ___|     10/04
 _>__     _>__     __|_     __>_     __>_     ___|     10/05

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:  09/28/04 S&P:    1110
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 .... I'm not illiterate! My parents were married... ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .