It took a while for market to get its act together this morning, but it
finally made a modest gain.  It coasted until late afternoon then
stumbled and gave it all up.  That's not a good sign.  I guess the best
that can be said about it is there was little enthusiasm, volume was -8%
below average.

I guess that's the best that can be said about this whole correction.
Volume was +11% above average on the day my timing signal popped it's
Sell signal, and +27% above on the following day when it fell even more.
That was two weeks ago.  Since then volume hasn't been as much as 10%
from average either above or below.  That average has been sagging a
bit.

So after the breakdown the correction seems to be the result of
disinterested buyers, not determined sellers.  At least, not yet.  It
appears the institutional, "big-money" investors are basically holding
their positions.  That's no excuse for ignoring the 7% Solution for a
losing position, of course.  It's just that maybe we can hope to
continue holding winning positions.

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

 __      _|__      __<_      <___      ___<     03/22
 __      _|__      _|__      _<__      ___<     03/23
 _      _<__      __|_      <___      __<_     03/24
 ___|      ___>      _<__      __|_      _|__      __<_     03/25
 _>__      ___>      ___      __<_     03/26

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: SELL       Date:  03/10/04 S&P:    1124
Winner or Loser:  Winner!               By:     72

See my market tracking charts for '01-'02 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, paul.rogers{at}angelfire.com                   -o)
http://www.angelfire.com/or/paulrogers                   /\\
Rogers' Second Law: Everything you do communicates.     _\_V

... Upgrade -- (v.) Take out old bugs, put in new ones.
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