"It's the economy, stupid!"

The Market open much lower than yesterday's close due to a report that
Unemployment reached 6%, and it got worse from there.  Then Paul O'Neil
and Larry Lindsey dutifully fell on their swords, and the Market turned
around and stabilized.

You'd have thought this bunch learned their lesson last time--I know I
expected it.  The American electorate has expressed its indifference to
the future of Mr Saddam Hussein, but if this economy is like this next
year they'll sure know who to blame.  Would being in a war deter them?
It would probably be just one more reason.

I read one comment that the Administration needed to appoint
replacements that were more on the same page, "so the Administration
will speak with one voice."  If this Administration expects to remain in
power, they'd be well advised to forget the party line laissez-faire
market and find somebody willing to crawl into the pigpen and begin
propping up this economy.  If they wait for the market economy to fix
itself naturally, they'll be out of office.  It won't happen that way,
because if they don't fix it somebody else will.

I wonder if Robert Rubin needs a job?

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

 _|__      _>__      __>_      ___     12/02
 _|__      _>__      __|_      _     12/03
 _     12/04
 _     12/05
 __     12/06

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:  11/12/02 S&P:    883
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '00-'01 and my investment strategy
study at my websites:
http://www.xprt.net/~pgrogers/Pers.html
http://www.angelfire.com/or/paulrogers/Pers.html
http://www.geocities.com/paulgrogers/Pers.html

                                                   




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