Investors reacted positively to news this morning that there won't be a
"Baby Doc" situation in Iraq.  Could that turn around this stalled
market?

Maybe, investor "mood" influences prices about as much as anything else,
in the short term at least.  The Street has a notoriously short memory.

In any event, it was enough to turn around my timing signal, giving a
BUY signal today.  As I say below, it tend to whipsaw in the near term
after a signal, so I'd tend to trust yesterday's signal more than
today's.  If there's a quibble about yesterday's sell signal, it's that
volume was -13% below average.  Volume today was just above average +2%.
So I'd say this was probably more of a "blip" than anything else.

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

 _|__      |___      __|_      __<_      |___      ___<     07/16
 _<__      <___      __|_      __|_      <___      ___<     07/17
 __<_      <___      __|_      _|__      <___      ___<     07/18
 _<__      |___      _|__      _<__      <___      ___<     07/21
 __<_      |___      __|_      __<_      |___      ___<     07/22

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:  07/22/03 S&P:    988
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

                                                   



... I'm almost certain Heisenberg was correct.
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