Following the work started in 1984 to detect the solar intensity oscillations from ground (Jimenez et al., 1986), simultaneous velocity and intensity observations of 16 contiguous days of very high atmospheric quality obtained at Izana (Tenerife) have been analyzed. The frequencies of the p-mode intensity spectrum at three channels (500, 680 and 870 nm) and those of the velocity spectrum have been obtained. Amplitude ratios in the intensity measurements give results of 1.6 and 2.2 when comparing the last two channels with the first one, and their relative phases give a null result at any frequency in the 5 minute range. The relative phases between luminosity and intensity measurements give a mean result of -120 degrees. Finally, the ratio of the amplitudes of the intensity oscillations to the velocity ones correlates very well with theoretical expectations and it yields a fractional variation of the effective temperature of 2 x 10 to the -6th.