Subj : Market Action
To   : All
From : Paul Rogers
Date : Fri Jun 10 2005 05:28 pm

Content-type: text/plain

As I was browsing the headlines this morning to see what was moving the
market, I saw one suspiciously close to commiting "fallacious dichotomy"!
It's more often seen in political or religious discussions, but, well,
aren't most things tending to one or the other these days?  It's when
any objections to a proposition are purported to mean support for it's
polar opposite.  For example, any objections to the way globalization is
going down gets one accused of promoting strict protectionism.  It is
always a sophistry used to stifle debate and analysis.  It's like they
never heard the old aphorism, "there's more than one way to skin a cat."
When politicians use it, it doesn't much matter--they didn't mean it
anyhow and will go off and do what they intended to all along.  But when
one sees it in relation to financial matters, get thee to a quiet place,
drag the issue out into the light, turn it over thoroughly and examine
it on all sides.  Somebody is trying to fleece you, economically or
intellectually.

The market was down all day.  A high trade deficit comes under the title
of "The Usual Suspects", but that wasn't it.  With the attitude the
Street has seemed to be evidencing, it was just "more grist for the
mill."  Prices closed off modestly, and volume sank to -12% below
average.  I'd say the best one word description for the day's market
action would probably be "grumpy".  They didn't like anything much, but
weren't disposed to do much about it either.

This isn't a prediction in any manner, but if long-term rates are a
conundrum for Greenspan, I can't understand why the market continues at
these levels.  The 200-day Moving Average is down at 1169, and the way
the market has been behaving I'd expect it to be down around there.

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

 __|_     __>_     __|_     <___     __|_     ___>     06/06
 _<__     __|_     __|_     _<__     __|_     ___>     06/07
 _<__     __|_     __|_     _<__     __<_     ___>     06/08
 __|_     __|_     __|_     _<__     __|_     ___>     06/09
 _|__     _<__     __|_     _<__     __<_     ___>     06/10

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:  05/17/05 S&P:    1173
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.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

.... A conclusion is a place where you got tired of thinking
___ MultiMail/MS-DOS v0.35

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

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