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"Oh, no, don't let the rain come down, 'cuz my roof's got a hole in it
and I might drown."  After yesterday's "Cup & Handle",
prices got off to
a good start.  But it seems all the traders in the oil pit are amateur
meteorologists.  A mere disturbance was upgraded to just a tropical
storm, and they all went into a panic.  Hurricane?  Well, maybe, just
barely, and it's going to Miami & Palm Beach, not into the Gulf.  So
after gaining about 7pts, it all came apart and the S&P closed down
about 8pts.  NYSE volume rose to +5% above average.  Bulls don't want to
see falling prices on higher volume.

Oh well, prices are below the 50-day average now.  Encouraging, that's
not.  Momentum players will be switching sides.  We don't have far to
fall to hit the 200-day, and that's more important.

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

 ___     _|__     _|__     <___     ___<     08/18
 ____     _|__     _<__     _<__     ___<     08/19
 __|_     _>__     _|__     ___     ___<     08/22
 _|__     _>__     _|__     ___     ___<     08/23
 _|__     _>__     _|__     ____     ___<     08/24

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:  08/16/05 S&P:    1219
Winner or Loser:  Winner                By:     +25

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

... Did you expect mere proof to sway my opinion?
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