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There was a lot of good news for the Street today.  After the Meier
nomination the Street had some fears for Greenspan's successor, but it
likes the Ben Bernake selection.  Then, oil has fallen since Wilma took
a right turn and crossed South Florida, leaving the Gulf oil fields
alone.  Some good earnings reports came out, but that's tempered by a
lot of companies reducing their expectations.

Prices rose from the get-go, flattened through early afternoon as if to
reconsider, and rose again into the close.  They rose 150% of a
significant change, the Advance:Decline ratio was better than 3:1, and
the Up-volume to Down-volume ration was better than 6:1.  All well and
good, but: "Di'ja mean it?"  No, not really.  Volume fell almost -9% on
the day, to -3% below average.

What do you think you're going to hear on the nightly news?  A lot of
excitement about the price rise.  There's a lot of people on both
Streets that are ready for all this selling to be over, but they're
conveniently forgetting all the problems we know lie ahead.  Today, all
it really acomplished is to cause the Sellers to dry-up.  The only BS on
the Street is the verbal kind.

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

 _>__     __|_     __     >___     _<__     10/18
 ___>     __|_     _     _>__     _<__     10/19
 |___     __|_     _|__     __>_     _|__     _<__     10/20
 __|_     __>_     _|__     __>_     _>__     _<__     10/21
 ___>     __|_     _|__     _>__     _>__     _<__     10/24

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:  10/04/05 S&P:    1214
Winner or Loser:  Loser                 By:     -13

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

... Be kind to your sysop.
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