"Stocks fall on economy, SARS jitters."  Gimme a break!  Didn't I say
yesterday the Market Action was calling for a correction?  SARS didn't
cause this, and the economy today is much the same as it has been all
week.

Volume shrank again with the falling prices.  That's good, because I
wouldn't want to get the idea that the Bulls are afraid to break through
that Declining Tops line.

I saw something in the paper today about the Bears continuing to sell
into this rally, even increasing their Short Selling yesterday.  It just
the way the old Supply vs Demand Equation is used.  Prices are high.  If
the Bears can Short enough stock now to crack the rally, they can break
investor confidence.  That will bring more Sellers into the Market with
profit-taking, driving down prices so the Bears can cover their Shorts
at a profit--and reinforcing the view that this Declining Tops line is
influencing the Market and it's still a Bear Market.  But if they don't
succeed and prices rise, then at some point they'll take their lumps and
cover anyhow.  That will bring in more buying, driving prices up even
more.  That's the way this game is played.

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

 _|__      |___      __|_      _|__      __|_      ___>     04/21
 __>_      >___      __|_      __|_      ___|      ___>     04/22
 __>_      _>__      __|_      __|_      ___>      ___>     04/23
 _>__      _>__      __|_      __|_      __|_      ___>     04/24
 _|__      _>__      __|_      _|__      __     04/25

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:  04/01/03 S&P:    858
Winner or Loser:  tbd                   By:     tbd

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

                                                   



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