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Prices formed a "hog-back" formation today, hitting their highs in
mid-session, and finishing just modestly below yesterday.  Volume was
slightly lower, +4% above average.

I'm always giving you volume figures because it's so important and few
others do.  But raw numbers are hard to understand, so it's a comparison
of volume to the 6-week, 30-day moving average.  The Street gets more or
less active over time, so this accounts for recent activity, as best we
can.

Over the past week the percentages have been all in single digits.
That's just telling us there's not much enthusiasm or fear on the
Street.  What we want to note is when it's in double digits and when it
changes markedly.

If you're holding a stock, you probably chart prices.  You also need to
put volume on that chart

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

 __     _<__     ___|     02/03
 ____     _|__     _>__     _<__     ___|     02/06
 ___     _|__     __>_     _<__     ___|     02/07
 ____     _|__     __>_     _|__     ___|     02/08
 _|__     _|__     _|__     __>_     _|__     ___<     02/09

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:  02/03/06 S&P:    1264
Winner or Loser:  loser                 By:     -10

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

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