Subj : Market Action
To   : All
From : Paul Rogers
Date : Tue Nov 02 2004 03:13 pm

Content-type: text/plain

Today, even though I write this in mid-afternoon, seems like an apropos
time to mention another of the top handful of Rules for Successful
Investing.  "GET OVER IT!"  As investors we all have temporary setbacks.
The worst thing we can do is dwell on them, to think "we been robbed",
to believe "the market owes that back to me".  All such attitudes keep
us in the past, and that's noplace for an investor to be!  We can't
invest in the past, only in the present or the future.  The fact is: we
have nobody to blame for past mistakes but ourselves!  Did we invest in
something nobody else wanted?  Did we buy or sell too soon or too late?
Did we pay too much?  Did we ignore any indications that the market had
turned against us?  We need to do an objective post-mortem on ALL our
investments, but we need to come from that with only lessons learned for
the future.  Anger will only betray us.  Successful investors do this.

After the first hour or so of trading the market rallied about 10pts and
held that level until late afternoon, then it sold off hard back to
nearly unchanged levels.  Volume was up +13% above average, predominantly
in the sell-off.  The NASDAQ flirted with 2,000 most of the day, will it
ever see 3,000 again?

Purportedly there was a rumor Kerry was leading in Florida and Ohio.
What were they thinking?!  (Geez, Louise, suppose Kerry won--he'd still
have an angry Republican Congress, especially in the House, so his
chances of getting his platform through Congress is a good approximation
of ZERO.  "Checks and balances", remember?)  Politics is another of
those things that doesn't benefit investors.  It either makes one
self-satisfied or angry, neither emotions which create the proper frame
of mind for successful investing.

Just work your strategy and tactics as if this were just another week,
just another month.  Take any profits the market foolishness throws your
way, but other than that ignore it all.  Your strategy and tactics must
be based on sound investing principals, and the correlation of those
with politics is another good approximation of zero.

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

 ___>     _>__     __|_     ___>     __>_     ___<     10/27
 __>_     _>__     __|_     __>_     __>_     ___<     10/28
 __>_     _|__     __|_     _>__     __>_     ___<     10/29
 __>_     _|__     __|_     _>__     __|_     ___|     11/01
 __|_     _|__     __|_     __>_     __|_     ___|     11/02

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:  10/27/04 S&P:    1125
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

.... Don't assume malice for what stupidity can explain.
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 * Origin: The Bare Bones BBS (1:105/360)

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