Content-type: text/plain

The market was OK during the first half-hour, up about 10pts.  Then
apparently someone noticed it was all an April Fool's joke.  In the next
half-hour it gave it all back, and during the rest of the day bottomed
out about -10pts down.  Prices recovered a couple points at the close,
but it hardly mattered.  Volume continued way above average, +26% above
average.  If you thought the last weeks' volume was just end of quarter
window dressing, why has it continued?  No, there's something more going
on.  Oh, sure, crude has continued to climb, setting a new record high
again.  But it seems the "free market" is unable to control the
speculation.  So much for dogma.  Well, if they keep this up they really
can throw the world into a recession, or worse.

Has anbody else seen some cautionary lessons for us as investors in the
report to the President on the failures of the intelligence services,
and how the flawed intelligence was misused?  I think again I may quote
Churchill, "Believing the other guy's propaganda is dangerous.
Believing your own is invariably fatal."  The stories which tell us what
we want to hear are the most dangerous.  That's one reason I'm usually
skeptical of market "news".  It's also one reason I mistrust financial
advisors--they have too much information about what we want to hear!

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

 __|_     __>_     _|__     __>_     |___     __<_     03/28
 _|__     __>_     _|__     ___>     |___     __<_     03/29
 ___>     __>_     _|__     ___>     _>__     __<_     03/30
 _>__     __>_     _|__     ___>     _>__     __<_     03/31
 _>__     __>_     _|__     ___>     _>__     __<_     04/01

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

... Teachers don't like thinkers--they ask too many questions
___ MultiMail/MS-DOS v0.35

---