Subj : Market Action To : All From : Paul Rogers Date : Wed Mar 02 2005 05:23 pm Content-type: text/plain "Be careful what you wish for, you may get it!" Prices fell about 5pts at the open, then began slowly climbing back (perhaps because Greenspan was testifying to the House Budget Committee). Mid-morning they suddenly jumped up about 10pts on higher volume and held that level until mid-afternoon, when they gave it all back, again on higher volume. In the end, prices were off less than half a point, and volume was about -1% below average. Crude prices jumped to $53/bbl, which probably "explains" the afternoon sell-off. The morning jump was "caused" by Greenspan. The problem is, you can read about anything you want into his comments. Social security was on the agenda, not surprizingly. He said it were better fixed sooner than later, but he didn't tell us HOW! He is still cool to the Bush plan. But its supporters still want it their way and only their way. There's more than one way to fix the problem! I'm confused, don't we already have individual tax-advantaged retirement accounts? They're called IRA's and Roth's! Why do we need to change? Change is not conservative. Boost the allowables and people will save more--we know a good deal when we see it. If people aren't maxing-out their IRA's and Roth's, what makes anybody believe the Bush versions will be as fully-funded as the projections presume? He said the problem is we need more workers. Well, DOH! How long have I been saying we need more employment in country? There are too many jobs being off-shored. More workers is easy. The simple way is to give every Mexican at the border a free green card and a free Social Security card and begin collecting those taxes. Oh, no, we can't do THAT! Now there's one more thing about these individual retirement accounts that isn't being talked about enough. Do you really, really, want the responsibility for your retirement welfare? Just how good ARE we as money managers? What proportion of people with IRA's and Roth's are able to match the projections with their own investments? If I'm not mistaken my own IRA dropped about -30% between 2000 & 2003, and I'm watching this market every day. I knew it was a Bear Market, but I had no idea how long it would last, when it was the right time to get out and when to get back in. Fortunately I didn't need that money right then. How many people, required to manage their own retirement money, would have the financial understanding to make really good investments, and the guts to stick with them? Brokers and financial advisors? HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA Don't make me laugh! All they're after is making the payments on the Beamer! "Be careful what you wish for, you may get it!" Price Vola- Momen- Volume Oscil- Summ. Change tility tum lator Index -__+ -__+ -__+ -__+ -__+ -__+ __<_ _<__ __|_ _|__ _<__ ___| 02/24 __|_ _<__ __|_ _|__ __>_ ___< 02/25 _>__ _<__ __|_ __|_ _>__ ___< 02/28 __>_ <___ __|_ __>_ __>_ ___< 03/01 _|__ <___ __|_ _>__ _|__ ___< 03/02 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: 02/24/05 S&P: 1200 Winner or Loser: tbd By: tbd 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 .... "Witches Parking Space: Offenders will be toad". ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .