Subj : Market Action
To   : All
From : Paul Rogers
Date : Wed Dec 15 2004 05:20 pm

Content-type: text/plain

There was a bump in the road this morning, probably crude oil, but the
market fought back to close a couple points higher.  I wouldn't call it
a stellar performance, however volume did increase to +13% above
average.

Now, there's a couple things we ought not forget over the next couple
weeks.  There should be some year-end tax-loss selling among individual
and institutional investors, and some mutual funds.  If you've got some
to do, get after it!  According to the Law of Supply & Demand, that
equates to supply and should drive down prices.  Then we've got New
Year's Day.  That's a time when the big investors are going to evaluate
their expectations for the year.  Be wary of possible self-fulfilling
prophecies.  Many investors are also going to be watching closely--
there's the old aphorism: "As January goes, so goes the year."  That's
another opportunity for more self-fulfilling prophecies.  I've seen many
years get off to a very rocky start.

Oh, note to Bush: the worldwide investing community doesn't want to see
a "signal" that Washington intends to take care of its deficit--we've
heard that before.  They want to see accomplishments.  It's easy to
spend money, everybody's your friend.  It's hard to convince everybody
to ante-up when its time to pay the bills.  Lame ducks may not have as
much capital as expected.

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

 __<_     <___     __|_     __|_     _<__     ___<     12/09
 _|__     <___     __|_     _<__     _|__     ___<     12/10
 __>_     |___     __|_     _<__     _>__     ___<     12/13
 __>_     >___     __|_     __|_     __>_     ___<     12/14
 __>_     _>__     __|_     __|_     __>_     ___<     12/15

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

.... A tisket, a tasket, a condom or a casket?!?
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