ROSY OUTLOOK : ODDS FAVOR COOL, DRY DAY.

Byline: Sharline Chiang Daily News Staff Writer

Possible light showers could break a 42-year, dry-weather streak for the Rose Parade in Pasadena today.

But the odds are in favor of a parade without showers - even if there isn't much sunshine either, forecasters said Tuesday.

After three days of wavering reports predicting rain, forecasters Tuesday lowered the chance of showers for today's New Year's Day events to 20 percent. The same chance of precipitation will continue through Thursday, the National Weather Service said.

A subtropical storm from the eastern Pacific is expected to bring heavier rains to the area Friday and part of Saturday, according to the forecasters.

As for today, one meteorologist offered a dose of optimism for paradegoers and others heading outdoors.

``That's an 80 percent chance that it won't rain. People have to look at it that way,'' said Mallory Ham, a meteorologist with the National Weather Service's Oxnard station.

And even if it does rain, it's not likely to exceed a tenth of an inch, Ham said. ``Most people don't even pull out umbrellas for that.''

Temperatures in the San Fernando Valley over the next two days could reach highs in the the mid-60s and lows in the lower to mid-50s.

Brief showers from a normal storm system fell over parts of the Valley on Tuesday afternoon, with Los Angeles International Airport receiving about .06 of an inch of rain.

Forecasts for glum weather means the Rose Parade may face its first rainy day since 1955. In its 108-year history the parade has only met rain nine times.

Paradegoers should keep their plans to come out, regardless, organizers said. ``We're looking forward to a great day, rain or shine,'' said Bill Flinn, Rose Tournament chief operating officer. Flinn said the parade will not be canceled even if it rains.

Since predictions call for minimal showers, if any, the Brookside Golf Club greens will be open for public parking to the 12,000 or so vehicles expected to attend the Rose Bowl game this afternoon.

``It's a go. We're going to park it,'' Kevin Ash, assistant game manager, said Tuesday. If rain increases, the decision could be reversed to avoid having to pull cars out from the mud, he said.

Morning lows in Pasadena will be in the lower 50s, warming to the upper 50s for the Rose Parade. While fans at the Rose Bowl, rooting at the game between Arizona State and Ohio State, can expect temperatures to reach into the middle 60s.

Storm patterns Tuesday inundated parts of Northern California with floods and mudslides. A massive mudslide closed a 45-mile section of Interstate 5, the state's main north-south freeway.

A subtropical storm, expected to hit Santa Barbara County by Thursday and Los Angeles County by Friday morning, will contribute to a winter season that, so far, has been wetter than last year's, Ham said.

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2 Photos

Photo: (1--Color) Justin McCoy affixes the last of the greens to the Lions Clubs International Rose Parade entry in Pasadena on Tuesday.

(2--Color) A float decorator rushes to finish one of the 56 floats that will highlight the 108th Annual Tournament of Roses parade in Pasadena today.

Myung J. Chun/Daily News