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That's a wrap for October.  The many mutual fund managers whose fiscal
year-end is in October have done all the tax-loss selling they're going
to do.  They are starting a new year now, and we should pay attention!
If I'm right, their bias will change from selling to buying, at least
for the short run.  And their selection of stocks will be different--and
Momentum Players will want to be especially observant about which are
going to be the new darlings of the Street!

So, not surprizingly, the market continued to push higher today.  Up
9pts is the better part of the 13pts or so of significance currently,
and volume increased to +11% above average.  That's enough for my
formula to call it an "Accumulation" day when Buyers held sway.  And
you'll see below, although the trend is anemic, my Momentum indicator
crossed the centerline--triggering a BUY signal.  The Oscillator trend
has switched around as well.  So, all things considered, I'd be prepared
to "take it under advisement."  At this point it's just speculation on
my part--I want to see some confirmation on the Street.  I'm pencilling
a line at 1177, and that's going to be the "bottom" I want to see prices
above.  If it breaks below that line, it will immediately get my
attention.

Remember, if you've got losers, "Sell into strength."  If the market
turns around here into the end of the year, as it often does, just
because the market as a whole is providing a fair breeze doesn't mean
those losers are now thoroughbreds!  Take whatever you can get if they
do gain back some of their losses, and do what you were threatening to
do when they were way underwater.

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

 _>__     __|_     _|__     __>_     __>_     _<__     10/25
 _>__     ___     _>__     _<__     10/26
 _|__     ___     _|__     _<__     10/27
 ____     __<_     _<__     10/28
 __>_     __     __>_     _|__     10/31

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

... Ignorance creates more miracles than divine intervention.
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