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Prices started off good this morning, until a stumble at 11.  But even
so, they didn't give back all their gains, and slowly began getting it
back through the afternoon.  By the last hour they were in "clear air",
and closed near the highs of the day.  The close was a bit better than
half-way to being up significantly, but volume was down to -9% below
average.

Not bad for a holiday week.  The danger here would be that if prices
were to continue to increase on light volume this week, traders off for
the week would take profits next Monday, correcting the excess with
extra volume.  So I'd just relax and enjoy the black numbers, maybe sell
some losers if they come up enough.  Yes, this MIGHT continue to Xmas,
but "always take an acceptable opportunity to sell something you
shouldn't be holding" is a good tactical rule to follow!  We need rules
like this to protect us from our emotions--and it's something the AAII
won't teach you.

For those of you that know what "Bollinger Bands" are, using my formula
for standard deviation, prices are skating along the upper band.  You
know that's "cruzin' for a brusin'".  I'm not pencilling in anything
along this rally line because it's climbing way too fast.  There WILL be
a correction, but, well, let me just put it this way: it wouldn't
surprize me at all if we had a nice month ahead, all things considered.

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

 _|__     __>_     __>_     __|_     ___     11/15
 ___     __>_     __     11/16
 __|_     __|_     __>_     __     11/17
 __>_     ___     ___     __>_     11/18
 __>_     ___>     __>_     __     __>_     11/21

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

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