Subj : Market Action To : ACAJUNANDABRIT@AOL.COM From : PAUL ROGERS Date : Tue Oct 05 2004 09:18 pm This message was originally addressed to ALL and was forwarded to you by COREY STEARS. Thought you might like to take a look at this... ----------------------------------------


By the first half-hour of trading the market saw its high of the day,
presumably "because" oil fell 80 cents and several Fed governors had
positive comments.  It closed up less than half what it made during
those first few minutes, but that was enough to peek above this year's
resistance line.  Volume fell back some, but was still +24% above
average.

I'm still suspicious of this move.  We're not out of the woods yet.  I
still think there could be some "gaming" of this market.  Clearly there
are investors eager to see sign of the Bull, I'm just afraid trying to
jump in here would have us scraping it off our shoes!  If'n I was a day-
trader, I might dabble, but I'd keep my finger on the trigger.  The
Bullish wannabes don't want to hear this, but 10 months isn't too long
for a major consolidation--don't ignore a decade long chart.  By
historical standards the market isn't cheap.  Q3 earnings aren't enough
in themselves to break us out of such a consolidation.  I was going to
add that I don't see anything really good looming, but then we never do.
Patience.  Patience.

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

 __|_     |___     __|_     __|_     _|__     ___|     09/28
 __|_     <___     __|_     __|_     _|__     ___|     09/29
 _|__     <___     __|_     ___>     _|__     ___|     09/30
 ___>     <___     __|_     ___>     __>_     ___|     10/01
 __>_     |___     __|_     ___>     __>_     ___|     10/04

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 .... If we agree on everything, one of us isn't thinking. ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .