Subj : Market Action
To   : All
From : Paul Rogers
Date : Tue Dec 14 2004 05:42 pm

Content-type: text/plain

This morning the market quickly rose to the 1200 level, where it
encountered moderate resistance.  Volume was brisk.  It succeeded in
crossing the line, but until mid-afternoon the best description of the
action might be "hugging the line".  Then the Fed's announcement was
released, and prices did the rapid "yes-no-yes" indecision we've seen
before.  But it didn't take long for the Street to decide if the Fed is
raising rates another quarter point, and persisting with their "measured
pace" advisement, well, then things might not be as bad as they seem.
I'm not so sure, because large corporations profit significantly from
their international operations.  American operations might not be doing
well, but corporate earnings contribute to GNP.  I wonder if it was a
mistake to get away from GDP a couple decades ago.

Prices closed up modestly, and volume rose to +5% above average.

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

 __<_     <___     __|_     __|_     _<__     ___|     12/08
 __<_     <___     __|_     __|_     _<__     ___<     12/09
 _|__     <___     __|_     _<__     _|__     ___<     12/10
 __>_     |___     __|_     _<__     _>__     ___<     12/13
 __>_     >___     __|_     __|_     __>_     ___<     12/14

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

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