Subj : Market Action
To   : All
From : Paul Rogers
Date : Tue Nov 23 2004 05:24 pm

Content-type: text/plain

The market closed basically unchanged, but spent half the session about
-5pts down, reportedly reflecting crude prices.  But volume was -8%
below average, pretty much as expected.

We just have to wait for things to get back to normal next week, and
then see if we're going to get a "traditional" Santa Claus rally.  Some
of you, lots of others, and that includes most money managers and the
mutual funds that don't have their FY-end in October, may be doing some
tax-loss selling in a month.  We'll want to see how that affects the
market.

Don't put too much hope in the future though; Januarys have generally
been tough the past few years.  But then this idea that there are
predictable seasonal trends is a good way to lose big.  Golfers might
make good investors: "Play it as it lies."

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

 __<_     ___>     __>_     __|_     __|_     ___>     11/17
 __<_     ___>     __>_     _|__     __<_     ___>     11/18
 _<__     ___>     __>_     _>__     __<_     ___>     11/19
 __<_     ___<     __>_     _>__     __<_     ___>     11/22
 _<__     __<_     __>_     _>__     __|_     ___>     11/23

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

.... 4 + 6 = 10.  1 + 1 = 10   3 + 5 = 10   9 + 7 = 10
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