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The DJIA bounced back and forth across the line, but the NASDAQ was
underwater all day.  So the S&P was modestly negative, albeit within a
range of about 7pts.  Volume fell slightly, to -2% below average.  My
timing signal triggered a SELL, and with the Oscillator crossing into
very negative, I'd pull the trigger.

The President of the Chicago FRB, Moskow, reiterated last month's
statements that the economy is "at the speed-limit", as one reporter put
it.  The good news is he's currently not a voting member of the FOMC,
but don't count on the FOMC stopping any time soon.  No wonder the
market is tanking.

Late last night I heard an interview with the State Dept negotiator of
this new India nuclear deal.  He was talking about how India needed more
cheap nuclear energy for its population of 600M, twice the USA's, and to
take its per-capita place in the globalized economy.

I had this funny thought.  Suppose they had it--POOF, they get a
perpetual motion machine.  What could they do with it?  Really!  What?

They could desalinate water when the monsoon's fail, minimizing food
shortages.  To the extent that an abundance of food from a second "Green
Revolution" causes even more population growth, that seems self-
defeating.

Manufacturing?  Primary materials processing?  Is there a shortage of
that in the world?  I thought we were already consuming more natural
resources, beyond just energy, than the Earth produces.  Where are we
going with all this?

Don't get me wrong, I've nothing against India.  In fact I like the food
and a lot of the culture.  I think they are showing us a profound truth,
as China has done with its "One Child" policy.  I think this is just
showing us, to coin a phrase, the limits of growth.  The Club of Rome
may have gotten all its answers wrong.  That's debatable.  But they did
get the questions right.  As investors risking our wealth, I think we
need to pay attention to those questions and the objective answers.

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

 __|_     __>_     __|_     _|__     __|_     ___>     03/01
 _|__     __>_     __|_     __|_     __|_     ___|     03/02
 __     __|_     _>__     _<__     ___|     03/03
 _<__     __|_     __|_     _<__     _<__     ___|     03/06
 _<__     _|__     _|__     _<__     <___     ___|     03/07

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:  03/07/06 S&P:    1276
Winner or Loser:  even                  By:     0

See my market tracking charts for '04-'05 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{at}yahoo.com                       -o)
http://www.angelfire.com/or/paulrogers                   /\\
Rogers' Second Law: Everything you do communicates.     _\_V

... Yes, I _am_ made of "star stuff".
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