Subj : Market Action
To   : All
From : Paul Rogers
Date : Wed Dec 29 2004 05:43 pm

Content-type: text/plain

"Stocks Slump on Holiday Profit Taking"  See what I mean?  Some of these
supposed "analysts" are clueless!  Prices bounced along below the line
today, closing down just over a point, but key was once again trading
volume was -34% below average.  So, WHAT PROFIT TAKING?  For there to be
any "profit taking" volume would have to be well ABOVE average.  Just
modestly lower prices on significantly LOWER volume is just lack of
interest.

You've heard that the falling dollar is predicted to lead to a lack of
interest in foreign investors, i.e. central banks, to buy the bonds we
need to finance our debt.  It's happening:  "U.S. Treasury debt prices
slipped on Wednesday after an auction of $24 billion in new two-year
notes drew only scant demand in a holiday-thinned market.  Particularly
troubling was the lack of interest from indirect bidders, which include
foreign central banks.  They picked up just $7.90 billion, or 33
percent, of the whole issue, down from the 42.0 percent taken in the
November auction."  The holidays aren't the problem!  Certain members
and advisors of the Administration are just wrong, blinded by their own
dogma.  Deficits DO matter!

We need to accept the facts.  This is going to affect the investments
and options available to us.  We need to plan for that in our strategy.
NEVER let your politics cloud your investing judgement.

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

 __|_     _|__     __|_     _|__     __|_     ___|     12/22
 __>_     _|__     __|_     <___     __>_     ___|     12/23
 _|__     _>__     __|_     <___     _|__     ___|     12/27
 __|_     _|__     __|_     <___     __|_     ___|     12/28
 _|__     _|__     __|_     <___     __|_     ___|     12/29

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

.... This tagline ALWAYS lies.
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