Subj : Market Action
To   : All
From : Paul Rogers
Date : Tue Nov 16 2004 04:32 pm

Content-type: text/plain

Today the Street was shocked, SHOCKED, to learn the recent episode of
crude oil speculation caused wholesale prices, hence retail in future,
to rise.  Gimme a break!

The S&P500 price fell, but so did NYSE volume, -10% below average.  So
this wasn't the significant sell-off of a panicked market.

This whole venture into new highs for the year came on below average
volume.  I wouldn't say that's inherently fatal, not until we fall back
below the line on above average volume.  But if the Bulls want the high
ground, they need to TAKE it!  They need to show some of the buying
enthusiasm that pushed the market up here.  Higher prices, higher
volume!  Show us what you're made of.

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

 _<__     ___>     __>_     _>__     __<_     ___>     11/10
 __|_     ___>     __>_     _|__     __|_     ___>     11/11
 __>_     ___>     __>_     __<_     ___>     ___>     11/12
 _>__     ___>     __>_     _<__     __>_     ___>     11/15
 _|__     ___>     __>_     _<__     __|_     ___>     11/16

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

.... Please insert another quarter and try again.
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