Subj : Market Action
To   : All
From : Paul Rogers
Date : Wed Mar 16 2005 11:38 am

Content-type: text/plain

"Good bye, Bernie.  Sweet dreams, gentlemen."  Guilty on all counts!
Guess we just never should have believed those in the mid-90's who were
passing laws and so earnestly telling us we should just let business
free to do business.  Corruption has always been with us, that's how we
got the laws we had!  They were there for a reason.

The market today was no better.  It wasn't too bad during the morning,
but before lunch the slide started and never let up.  Prices closed down
below 1200 on higher, if still -2% below average, volume.  That means my
timing signal reversed yesterdays misguided Buy signal, to Sell today.

We're just 3pts above the psychologically important 50-day Moving
Average.  It's possible we could get some bargain-buying there that
could bolster the market.  It might act as a support line.  But if it
falls through it's likely to accelerate because that's a very negative
indicator.  I don't see anything in my charts that would make me expect
a bounce.  The trends don't look supportive.

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

 _|__     _>__     __|_     __|_     _<__     ___|     03/09
 __<_     _>__     __|_     __|_     _<__     ___|     03/10
 _<__     _|__     _|__     _|__     <___     ___|     03/11
 __<_     _|__     __|_     _<__     _<__     ___<     03/14
 _<__     _|__     _|__     _<__     |___     ___<     03/15

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: SELL       Date:  03/15/05 S&P:    1198
Winner or Loser:  Loser                 By:     -9

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

.... Be careful what you wish for, you might get it.
___ MultiMail/MS-DOS v0.35

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

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