Content-type: text/plain

The early returns in the market weren't so good, but at 11ET the news
hit that the NYC transit strike was over.  It was smooth sailing after
that.  Prices were up modestly, but I expect traders were sneaking away
because volume was -12% below average.

These days we have to expect low volume, and consequently potentially
higher volatility.  We might have a chance to take advantage here if
prices get out of kilter because there aren't enough buyers or sellers
to even things out.  But then, as long as we get any tax loss selling
or offsetting profit taking done THIS YEAR, why bother to take an
uncalculable risk on what the Street's attitude will be for next year.

It's not that we can neglect the market or "put things on auto-pilot",
we can never do that, NEVER.  It's just that this isn't a good time to
stake out any positions.  We've got pip-squeak voices, it's the
institutional and fund managers that say what the theme for the year
will be.  Let's hear what they have to say.

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

 _|__          12/16
 __     12/19
 _<__     <___     __|_     _|__     _<__     __|_     12/20
 __<_     <___     __|_     _|__     _<__     __|_     12/21
 __|_     <___     __|_     _|__     __|_     __|_     12/22

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

... Blessed are the pessimists, for they made backups.
___ MultiMail/MS-DOS v0.35

---