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Prices were underwater most of the day.  Consumer Confidence data shows
the lowest levels in two years, much lower than expected.  Greenspan was
also speaking, mostly about collapsing bubbles.  He said it is fortunate
most homeowners have a sufficient equity cushion to weather the effects
of higher mortgage rates--read "foreclosures, failure of risky loans,
collapsing real estate market".  Perhaps a recent purchase at currently
inflated prices, even with a long term fixed-rate mortgage, might find
one in a negative equity position and being called on for more security.
Little wonder most of the session was negative.  Oil corrected some,
leading to a view above the waterline in late afternoon.  In the end,
the market was unchanged on just average volume.  For that matter, the
market is unchanged for the year.

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

 _     <___     __<_     09/21
 __     <___     __<_     09/22
 ___     <___     __<_     09/23
 __|_     __     _|__     __<_     09/26
 __|_     __     _>__     __<_     09/27

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:  09/06/05 S&P:    1233
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

... Know how to boil a frog?   Heard about global warming?
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