Subj : Market Action
To   : All
From : Paul Rogers
Date : Mon Jan 24 2005 04:34 pm

Content-type: text/plain

This morning didn't look half-bad.  Prices started up and twice came
back to "re-test" Friday's closing, "bouncing off" both times.  In mid
afternoon it had built a modest gain, only to begin sliding away,
crossing the line into negative territory in that last hour.  I'm
telling you, the big investors on the Street don't particularly want to
be stock holders right now.  Make of that what you will.  The most
positive thing I see is that volume fell a bit, to +5% above average,
but still above average in recent terms.

We're at 1164, and my first (hopeful) line of support is at 1160, but I
don't think it will work.  The 200-day Moving Average is 1134, and we
hope that holds.  If you've got a good memory and pay attention, you may
remember some analysts said 2003 was little more than a Bull Trap in a
long term Bear Market.  I'm not sure what they're looking at, but by the
same token, I wouldn't ignore the possibility.  We know how that goes.
We remember how much it hurts.  Remember the 7% Solution, and don't let
your winners get away from you.  This isn't the sort of market you can
afford to let them run, confidently.

In case you missed my announcement, my "Tracking the Market" page has
been updated.  Pick one of the URL's below.

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

 __|_     _|__     __|_     __|_     _|__     ___|     01/18
 _|__     _|__     _|__     __|_     _|__     ___|     01/19
 _|__     _|__     _|__     __|_     _|__     ___|     01/20
 _|__     __|_     _|__     __|_     _|__     ___|     01/21
 _|__     __|_     _|__     __|_     _|__     ___|     01/24

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: SELL       Date:  01/19/05 S&P:    1185
Winner or Loser:  loser                 By:     -11

See my market tracking charts for '03-'04 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

.... Me...a skeptic?  I trust you have proof.
___ MultiMail/MS-DOS v0.35

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 * Origin: The Bare Bones BBS (1:105/360)

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