9aa Subj : Market Action To : All From : Paul Rogers Date : Tue Jan 13 2004 05:40 pm

The market fell out of bed this morning, then fell on its face at noon.
There was a big spike in volume at noon too.  Greenspan's speech to the
BundesBank in Berlin was blamed, but he didn't say anything alarming.
We're coming up to Q4 earnings reports with the market on a tear for the
past month, it's normal for investors to be jumpy, to take profits first
and ask questions later.  But not to panic, we could drop 32pts and
still not violate the "Rising Tops" support line penciled on my charts.
It would be a really good thing if we did fall back to it and bounced,
confirming it as apparent support.  You can see that line on my
"Tracking the Market" web page.  It stretches back to early September.

Of course, the possibility that we might get just a minor correction
that would serve to confirm a rising support line isn't an excuse to
avoid using the 7% Solution to protect yourself from a greater loss.
I could be wrong!  The market might not stop there.  There's no way to
predict that.  I'm just hoping it does.

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

 __>_      __>_      __>_      ___>      __|_      ___>     01/07
 __>_      __>_      __>_      ___>      __|_      ___>     01/08
 _<__      __>_      __>_      ___>      __<_      ___>     01/09
 __<_      __|_      __>_      __>_      __|_      ___>     01/12
 _<__      __<_      __>_      __>_      __|_      ___>     01/13

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:  11/24/03 S&P:    1052
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '01-'02 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
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