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"It's a dog eat dog world."  We ought to just get out of the way and let
business do business, Part 2.  Government restrictions on what
corporations can do just makes them less competitive, less profitable,
right?  If that's what you believe, you may be listening to the wrong
people.

Studies by Governance Metrics Int'l. show American corporations don't
rate too badly compared internationally.  The top rated companies in
America BEAT the S&P500 by 15.9% over the past 5 years.  These are
companies you're probably familiar with: 3M, Colgate-Palmolive, CIT, GE,
Eastman-Kodak, Gillette, Johnson Controls, Lockheed-Martin, Mattel, GM,
Occidental Petroleum, Pepsico, Dow Chemical, Proctor & Gamble, United
Technologies, PG&E.  And those are just the best known of them.

Good companies do well.  Saying, "I know what the rules are, but they're
preventing me from doing what I want.  I want different rules." is
called childish at home.  In Washington it's called lobbying and
campaign contributions.  Was it Churchill who said people usually get
the government they deserve?

The market started off fine this morning, but once again pessimism took
hold.  After all, it is the end of Q1, and confessions and earnigns are
going to start soon.  By the close prices had dropped 9pts, the better
part of the 13pts that would be significant.  Volume zoomed to +34%
above average, off the chart again.  That's a "distribution" day.
Sellers were determined to unload.

Don't tell me you weren't warned!

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

 __     _|__     ___>     <___     __<_     03/22
 ___     _|__     ___>     <___     __<_     03/23
 __     _|__     __>_     <___     __<_     03/24
 __|_     __>_     _|__     __>_     |___     __<_     03/28
 _|__     __>_     _|__     ___>     |___     __<_     03/29

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

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