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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Chris who wrote (3490)	9/30/1997 10:17:00 AM
From: Chris	of 42787

iqbal: Subject: "IDEA OF THE DAY"-Trading in&out for profits. \| Previous \| Next \| Respond \| To: agraff (10137 ) From: IQBAL LATIF Sep 30 1997 8:31AM EST Reply #10149 of 10164 This is a normal part of proceedings - each quarter companies pre-announce earnings and I am pleased that so far none of the majors have come up with any kind of a major surprise. We are on the verge of a big earning season and I think it is not going to be dis-appointments from copmanies which is going to take this market down - any test of old supports will come from economic overheating reports- ofcoursr WDC and ASND are worth some points on S&P but not the kind of impact a rising purchasers price will have or for that matter a change in sentiment of bonds- markets will move forward as we realize that the threats of inflation are fully contained - my longish bias stems from the believe that system has no inflation and NAPM numbers despite of being strong will not indicate forewarning of inflationary choke points. I think until 8th of this month we will see some good volatility- no charts will tell you that only fundamental economic analysis can- Today- imagine if Chicago numbers are strong market will weaken but strong numbers neccesarily does not translate into inflation- the first lesson of new economy -so even after spate of selling youy may see people looking at valuations and market will rebound. If Chicago data indicates strenght in line with expectations we may see a movement within a band- however it is only limited on upside to 970 and downside to 952- Tomorrow- I think I would consider this is going to be the day for long story to unfold- if NAPM and other numbers confirm the trend we will take out 970 my resistance and we will move towards the goal however I think this can also happen today if we see some strong benign numbers -yes mixture of strength and weakness what this market needs - good decent numbers without inflation- with these numbers we may see a test and take out of 970- but a break of 952 will not happen until we have the following mix- 1- NAPM is strong alongwith a sharp increase in purchasers prices and deliveriies delays- this combination will take the support of 952 out and we will drift down to 937 level around 8th when the big one comes in - it is going to be this big one which will cofirm that system has no inflation -and we rebound from there catching up with our original target- Suppose we also are hit with another surprise on 8th - it is than going to be a classic war of bear and bulls we will test 910 within days- simultaneously we will be in earning seasons- in come great earnings and fund managers run for great valuations- the market moves up like a rocket- it is going to be earnings which will take market beyond 8000 and my 980 level- and beyond- even two weeks of shocks will only be buying opportunities- I see dips as buying opportunity and I also think that basic picture is intact- recent selloff in DOW has prepared the background of a great run and if I am seeing it all wrong I have no other alternative- if inflation numbers result in to bonds sell off below 114- just go short the market with few S&P options- keep vigilante in this market - this was and never will be about few things on the charts it is about the big picture and if keep that is insight - you will be prepared for every eventuality- I am working on earning seasons and as it is always the case IKe is going to tkae upfront positons big way before the numbers - I think selloff will be a blessing in disguise as we move in to make the kill. I will step up to keep 'quality' posts going- if this -then what? don't you worry- your uncle is watching your back.

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