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The market bounced along below the line until the crude-oil pits closed
in mid-afternoon.  Crude set new highs intraday, but closed a bit lower,
reportedly on "profit taking".  That just confirms my opinion that it's
mostly speculation.  Prices closed up modestly in the last couple hours,
but volume remained at recent levels, +21% above average.  Volume was
heaviest just before the close, the Street's trading, but during the day
it was highest during some morning sell-offs.

This "manufactured" crude-oil crisis is severly impacting the stock
market, but I'm not sure it explains all the high volume of the past
couple weeks.  I suspect the market is setting up for a move in one
direction or the other.  Mindful that the Number 1 rule of investing is,
"Don't lose big", I'd be prepared to protect myself.  Well, ALWAYS do
that!

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

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

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

... I have seen the enemy, and he is us!  Pogo
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