The market didn't seem overly concerned that crude prices reached $49.40
today.  As a matter of fact, my timing indicator flashed a BUY signal.
I'd ignore it though.  Volume fell to -12% below average.  And that's on
an options expiration day!  Now granted, only the pit traders are
clearing their positions today.  The public's deadline was Wednesday,
and brokers rolled positions over yesterday.  So, prices were run up but
the low volume meant there was little investment required to do it.
That makes this a very fragile rally.  It's another one of those times
when I'd be using the higher prices to take profits or salve losses I
shouldn't have taken in the first place.  Not only do investors have to
have a good strategy, but they have to use effective tactics.

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

 __>_      __>_      _|__      _|__      __>_      __<_     08/16
 __>_      _|__      _|__      _|__      __>_      __<_     08/17
 __>_      _|__      _|__      _|__      __>_      __<_     08/18
 _>__      __      __|_     08/19
 __>_      _      __|_     08/20

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:  08/20/04 S&P:    1098
Winner or Loser:  tbd                   By:     tbd

See my market tracking charts for '02-'03 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

... It's as bad as you think and they are out to get you.
___ MultiMail/MS-DOS v0.35

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