Subj : Market Action
To   : All
From : Paul Rogers
Date : Wed Dec 22 2004 06:09 pm

Content-type: text/plain

The market got off to a bit of a rocky start this morning, but
mid-morning the oil inventory was released and the market took that as
good news.  There was a sag through mid-afternoon but prices closed up
modestly.  Volume sagged to -6% below average, presumably as the Street
began to sneak away.

We're already seeing a lot being made over some of the indices closing
at three and a half year highs.  I don't think we ought pay too much
attention to that--it's just Wall Street doing its marketing to Main
Street.  It may be that nobody benefits from shaking confidence in the
market, but the Street really does care about it.  They know they can
manipulate prices to a certain extent within the rules to maintain a
certain fiction about the market's progress.  They can even profit by
it.  After all, we're still below the 1527 highs, so this the market is
still officially under the influence of the Bear Market.

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

 _>__     _>__     __|_     ___|     __>_     ___<     12/16
 _<__     _>__     __|_     ___|     __|_     ___<     12/17
 __<_     _|__     __|_     _|__     _<__     ___|     12/20
 __<_     _|__     __|_     _|__     __|_     ___|     12/21
 __|_     _|__     __|_     _|__     __|_     ___|     12/22

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

.... If it works the first time, quit testing it.
___ MultiMail/MS-DOS v0.35
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 * Origin: The Bare Bones BBS (1:105/360)

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