Subj : Market Action To : All From : Paul Rogers Date : Wed Aug 04 2004 03:42 pm


This surgery thing wasn't as bad as I feared, yet, at least.  No babble
juice required.

The market fell about 5pts soon after opening and stayed there until
about 1:30ET, when it staged a rally and got above water.  It faded at
the close with the professional selling, closing down just a bit, but
volume rose a bit to -2% below average.

It's said the action resulted from oil closing lower, and Yukos getting
some of it's bank accounts opened to continue operations while its tax
problems are resolved.  That's as may be, but this market has been
behaving like this all year.  And being below the 50-day & 200-day
Moving Averages is going to make investors more trigger happy.  I'm
still grumpy, and think active investors should be happily sitting on
cash.  But then I've been pretty grumpy about the market all year.

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

 __>_      _<__      _<__      __>_      _>__      __<_     07/29
 __>_      _<__      _|__      _>__      __>_      __<_     07/30
 __>_      _<__      _|__      _|__      __>_      __<_     08/02
 _>__      _<__      _|__      _|__      __>_      __<_     08/03
 _|__      <___      _|__      _|__      _|__      __<_     08/04

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:  07/02/04 S&P:    1125
Winner or Loser:  Winner                By:     +12

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 .... If you liked DOS, you'll LOVE Linux! ___ MultiMail/MS-DOS v0.35 --- * Origin: The Bare Bones BBS (1:105/360) .