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It doesn't really matter what happened during the course of trading
today.  Prices closed little changed, volume though was -39% below
average.

The other night I stayed up because NYTimes columnist Tom Friedman was
on Charlie Rose.  They discussed the middle-east, but also Asia in
relation to Friedman's book, "The Earth is Flat."  It's about the
flattening of supply chains and distribution networks--the whole
globalization thing.

Then yesterday I heard Oregon, known as a green state, is preparing to
adopt California's vehicle emission standards.  Certain parties are
suing.  "It's going to cost too much."  They don't want change is what
it comes down to.  I remember the same song and dance in the 70's when
Japanese imports were cleaning Detroit's clock because they were better
cars and cheaper.  Seems to be true today too.  GM's problem isn't its
labor contracts, it's that it doesn't produce competitive, world-class
cars!  They've been selling them below cost to get people to take them!

I was reminded of the advice I've heard recommended to parents of high
school students.  Tell them, "Nope, you don't have to do your homework.
You don't have to work hard at school.  You don't have to go to a good
college.  You don't have do do any of that stuff.  But there's 250,000
kids in China & India that would bust their butts to do just that.  Who
do you expect to be making the big bucks?"

China is now exporting more cars than it imports.  Want a hybrid car?
It's foreign!  Want a world-class engineering or science degree?  Go to
MIT, CalTech, or IIT, the India Institute of Technology.  We can be
proud of cutting funding for the National Science Foundation and wanting
to debate evolution.  We don't have and are unwilling to develop
economical technology to control our emissions.  Somebody will, and will
profit.  It won't be America.  Go ahead and sue!  See where it gets you.

Remember this tagline:  "No opportunity is ever lost.  Someone else
takes it."

I've made the comparison of modern-day America with the decline and fall
of Great Britain before.  And now a significant fraction of my IRA is in
European and Emerging Market international funds.

Have a Merry Christmas.

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

 __     12/19
 _<__     <___     __|_     _|__     _<__     __|_     12/20
 __<_     <___     __|_     _|__     _<__     __|_     12/21
 __|_     <___     __|_     _|__     __|_     __|_     12/22
 __>_     |___     __|_     _     __|_     12/23

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: BUY        Date:  10/31/05 S&P:    1207
Winner or Loser:  tbd                   By:     tbd

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

... Hot water heaters:  hot water needs heating?
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