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"Be careful what you wish for, you might get it."

The market was above the line again today, and again within a modest
range, though not without some volatility therein.  It closed modestly
up, only 3pts when 12pts would be significant.  Volume came back in, up
to 21% above average.  My timing indicator is dithering again with this
apparent lack of conviction.  It reversed itself to a BUY today.

Apparently there was only a slight bias to the Bullish side--there were
enough sellers to keep prices from rising much.  I'd say the modest
price rise speaks of the day.  The best that can be said is that it
wasn't bad.  As far as the signal goes, I like a signal with volume
behind it, but without strong Bullish buying I'm unimpressed.

The Street seemed to like Daimler-Chrysler's announcement it will lay
off 6,000 mostly white-collar workers, mostly in Germany.  I think, as
my title implies, the Street may come to rue its enthusiasm over
announcements of cost cutting.

"Costs" are not some nasty boogeyman in my opinion.  I define
"costs" as
the value a business adds to its raw materials.  (What it takes to get
the raw materials in the door is a given.)  If it's products are not
more valuable than the costs it adds, it shouldn't be in business.  But
it should seek to ADD as many costs to the product as possible providing
they increase the value even more.  I want companies to find more ways
to do more to their raw materials to make much better products.  Heap on
those costs of R&D, marketing, management, technology.  Don't brag about
reducing prices as GM/Chevy is now doing!  Sell products at higher
prices.  Higher prices that customers are only too willing to pay
because it's worth it!  My Scots ancestors had a saying for it, "I'm too
poor to buy cheap."

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

 __     __|_     __     01/18
 __     01/19
      01/20
 ___     _|__     ___|     01/23
 __     __|_     ___|     01/24

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:  01/24/06 S&P:    1267
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

... Only the survivors write histories.
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