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I've been gone all day, no chances to check some of the market details.
All I got was a glimpse of the intraday price chart, which seemed like a
semi-circle--starting nicely then gradually flattening during mid-day,
beginning to slip in early afternoon and falling back to where it
started at the close.  That doesn't seem very positive to me.  There
certainly were no signs of bargain hunting buyers today.

At the close prices were down a little, and volume fell back to +6%
above average.

I've been meaning to comment on something I read a couple days ago.  An
oil analyst said traders were unconvinced OPEC could reall control
prices.  Is that true?  Sure, some users have big contracts with OPEC
suppliers, but the "spot market", the one we hear about on the evening
news, is controlled by those very traders who are obsessing over
"supply".  They're trying to absolve themselves of their own
responsibility for the high prices.  Nice try, no sale.

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

 ___     _|__     ___|     <___     __<_     03/18
 ___     _|__     __>_     |___     __<_     03/21
 __     _|__     ___>     <___     __<_     03/22
 ___     _|__     ___>     <___     __<_     03/23
 __     _|__     __>_     <___     __<_     03/24

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:  03/15/05 S&P:    1198
Winner or Loser:  Loser                 By:     -9

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.angelfire.com/or/paulrogers/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

... Me...a skeptic?  I trust you have proof.
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