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The DJIA didn't have a bad day, but the OTC didn't know what to do.  So
the S&P blend was up modestly, but volume was less than a percentage
point below average.

The Street is getting some decent earnings reports, about what was
expected months ago.  Some seemed to have made the mistake of expecting
it to go on forever, like the 90's all over again.  That's not going to
happen.  Now they're disappointed at expected growth rates in a less
stimulative, higher interest rate environment.  We'd all be better off
if the Street's young buck traders would learn, however belatedly, from
the market's history.  In any event, just remember, around New Years we
were hearing the usual investing gurus advise a growth in stock prices
in single digits FOR THE YEAR!

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

 __>_     _>__     __|_     __>_     ___>     ___>     02/04
 _>__     _>__     __|_     _>__     __|_     ___>     02/07
 __>_     _>__     __|_     _>__     __|_     ___>     02/08
 _|__     _>__     __|_     __>_     __|_     ___>     02/09
 ____     __|_     _>__     __     02/10

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:  02/01/05 S&P:    1189
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.angelfire.com/or/paulrogers/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

... Truth has nothing to fear from examination.
___ MultiMail/MS-DOS v0.35

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