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Prices moved steadily higher until mid-afternoon, making "moderate"
gains.  But about 2:30ET things started slipping.  It would be tempting
to think that's when the Street started slipping out of the office.  But
volume gained in the last hour.  But prices still closed modestly
higher, though volume finished down -14% below average--as expected.
Friday's only a half-day session, so there's little to be judged from
the price action.  Still, it just might be a good trading opportunity.

But note below that my measure of volatility has been very high all week
and is trending higher.  That's measuring the price change over time.
It's another way of noting how prices have been skyrocketing in such a
short time.  And in a way, it's telling us a correction is due.

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

 __|_     __|_     __>_     __     11/17
 __>_     ___     ___     __>_     11/18
 __>_     ___>     __>_     __     __>_     11/21
 __>_     ___>     __>_     _|__     __>_     __>_     11/22
 __>_     ___>     __>_     _|__     ___>     __>_     11/23

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:  10/31/05 S&P:    1207
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{at}yahoo.com                       -o)
http://www.angelfire.com/or/paulrogers                   /\\
Rogers' Second Law: Everything you do communicates.     _\_V

... Real men aren't afraid to have a woman on top
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