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Prices "gapped up" at the open, beginning noticably higher than
yesterday's closing price.  From there it was a "U" shaped valley in
trading prices.  They slumped during the first half of the session, and
mirrored that by gaining it all back by the close.  Volume at the close
was significant--apparently traders didn't want to hold stock over the
weekend--but closed modestly higher, +6% above average.

It's good volume increased, albeit modestly, as prices pushed above
1245, again modestly.  What would be important now is that they continue
to move higher, and confirm that enthusiasm with better than average
volume.  That 1245 "resistance" line could become a
"support" line after
we get a little higher.  This is a good time to pay attention to how the
market behaves.

However, next week is holiday-shortened, with a half-day session Friday
morning.  There will naturally be a tendency to light sessions Wednesday
and Friday at least.  If we need to make some transactions, we might
want to see how stocks move on those light-volume days.

As much as I write about proper strategies in investing, this is
tactical investing and it's important too!  A good investment can be a
bad investment if it is mistimed.  It would really be nice if we didn't
need to "time the market"--that tactic is notably dangerous.  Dollar
Cost Averagers don't, for example.  And I would never advise distorting
one's strategies just because of market timing--that's a sign of
inadequate strategies.  But when proper strategy allows, a little good
discretion can make a difference.

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

 _>__     __>_     __>_     _|__     __|_     __>_     11/14
 _|__     __>_     __>_     __|_     ___     11/15
 ___     __>_     __     11/16
 __|_     __|_     __>_     __     11/17
 __>_     ___     ___     __>_     11/18

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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