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"Be careful what you wish for, you may get it!"

Prices fell about 5pts at the open, then began slowly climbing back
(perhaps because Greenspan was testifying to the House Budget
Committee).  Mid-morning they suddenly jumped up about 10pts on higher
volume and held that level until mid-afternoon, when they gave it all
back, again on higher volume.  In the end, prices were off less than
half a point, and volume was about -1% below average.

Crude prices jumped to $53/bbl, which probably "explains" the afternoon
sell-off.  The morning jump was "caused" by Greenspan.  The problem is,
you can read about anything you want into his comments.  Social security
was on the agenda, not surprizingly.  He said it were better fixed
sooner than later, but he didn't tell us HOW!  He is still cool to the
Bush plan.  But its supporters still want it their way and only their
way.  There's more than one way to fix the problem!  I'm confused, don't
we already have individual tax-advantaged retirement accounts? They're
called IRA's and Roth's!  Why do we need to change?  Change is not
conservative.  Boost the allowables and people will save more--we know a
good deal when we see it.  If people aren't maxing-out their IRA's and
Roth's, what makes anybody believe the Bush versions will be as
fully-funded as the projections presume?

He said the problem is we need more workers.  Well, DOH!  How long have
I been saying we need more employment in country?  There are too many
jobs being off-shored. More workers is easy.  The simple way is to give
every Mexican at the border a free green card and a free Social Security
card and begin collecting those taxes. Oh, no, we can't do THAT!

Now there's one more thing about these individual retirement accounts
that isn't being talked about enough.  Do you really, really, want the
responsibility for your retirement welfare?  Just how good ARE we as
money managers?  What proportion of people with IRA's and Roth's are
able to match the projections with their own investments?  If I'm not
mistaken my own IRA dropped about -30% between 2000 & 2003, and I'm
watching this market every day.  I knew it was a Bear Market, but I
had no idea how long it would last, when it was the right time to get
out and when to get back in.  Fortunately I didn't need that money right
then.  How many people, required to manage their own retirement money,
would have the financial understanding to make really good investments,
and the guts to stick with them?  Brokers and financial advisors?
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA  Don't make me laugh!  All they're
after is making the payments on the Beamer!

"Be careful what you wish for, you may get it!"

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

 __<_     _<__     __|_     _|__     _<__     ___|     02/24
 __|_     __     ___<     02/25
 _>__     ___     ___<     02/28
 __>_     _     __>_     ___<     03/01
 _|__     __     _|__     ___<     03/02

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:  02/24/05 S&P:    1200
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.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

... "Witches Parking Space: Offenders will be toad".
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