Idea Of The Day Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: IQBAL LATIF who wrote (17437)	3/16/1998 11:20:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

I am looking at very interesting configuration developing with Nikkei I have a feeling that this is exactly the kind of pre- 'bhumbo' setting--- lot of water has passed under the bridges since I use to talk of the explosive run up once 992 is taken out anyone who intended to follow my levels must be quite happy to see BKX at new highs instead of shorting it at 690 also RUT and Nasdaq achieved my objectives and this is now setting up to become a market which may take my level of 1130 much earlier then I anticipated-- I think I can make a case for higher levels based on folowing- 1- CAC and FTSE comparison of country index give me a strong feeling of 1130 before 1008-- the action after 5582 on FTSE and DOW 8438 breakout is quite similar-- in my opinion one shopuld be careful not to intitate short positions below 8438 give and take 20 points on both side a double close for me my next support is 8152. 2- On SPM please note that my level has been 1130-- I did talk of slight correction of 2-3% in the middle of proceedings and I think journey from here up will be quite eventful a test of 1061 the 20 days moving average should be seen in light of my DOW level of 8438 if we are unable to pierce these supports we have a good case for a run to 1130. I will like to take some cue from Nikkei also I see a band of 16637 and 17264 as a band of 900 and 992 on SPX once we took that band out we are 10% higher within a month or few more days for Nikkei I expect this band to be broken on the up very soon the biggest benefactor of oil price decline will be Japan. 3- The market at 8700 and change looks quite pricey but I am happy that we have been able to brave out this noise on the way up to here and maintained long positions I will like you to watch old highs which have now become a major supports to be followed carefully like RUT BKX Composite 466 786 1748 respectively--- I expect market to fail at or around 1123-1138 I am banking on the upper limit then lower and expect 1170 on SPM to become the support if we terst this level at 1130 we should expect 1070 to be a good support that should in my opinion be my 20 days MA by then but lets be watchful and carefully tread these very diffcult markets-- I am surprised that despite of knowing that markets don't give what majority watns we have been expecting a miraclous break on the down side every one wants to enter the market at 992 like every one wished to enter at 770 in April last year-- if April May run of 97 is to reenacted we have already covered most of this upmove in a very short duration we need some basing action here and I would like 1061 to be held like the old highs will be expected to be well defended in face of sellling pressures. This is going to be quite interesting and my trade is long Nikkei for now, on SOX I will expect this action and consoildation to continue for another week but 320 in most liklihood shall be tested soon if far east gets going and Nikkei runs we may see market reacting to these actions by awarding some new valuations to SOX-- markets as we all know are forward loooking indicators and I do expect that markets will reward SOX if Japan breaks the yoke. P.S.-- Nice and thanks to every one who had send me messages on missing my posts--- thanks for liking my levels -- bi bi

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next