Stock Attack -- A Complete Analysis Message Board

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

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To: ViperChick Secret Agent 006.9 who wrote (8254)	5/7/1998 2:39:00 PM
From: Chris	of 42787

To: Lee (18307 ) From: IQBAL LATIF Thursday, May 7 1998 2:38PM ET Reply # of 18310 Lee- My forecast going forward- According to bond traders who thrive on rumours- we will ahve a strong employment number with weak hourly earnings.... The consequences will be that- 1st possibility- and that is what I think is going to happen-We will have selling pressure on opening, may be globex will suck in lot of amateurs and opening may not even show 100 down but in case we have a down opening I will if hourly earnings are below market go long at around 1093 support. in this case I see a possibility of- if hourly earnings shows no sign of creeping up, a run back up to 1130. This is good combo for the current market as I would like to see strong economy and low inflation, the ideal thing for corporate profits to beat consensus of 7.5% growth of corporate profits. The PC sales in Europe are coming along very well and I was happy to see that Techs were holding well at the opening. With NWX reching 366 resistance that should be taken out I see Techs possible taking off. Fudamentals are good and with AG keeping quiet on 'exuberance' thing I would assume that markets will take a big cue from tomorrow. Bonds are a good long at 119-14 level or 5.98%. 2nd possibility-Now if we have a weaker employment number the natural thing would be that bonds would rally and we may have rally in stock market based on the fact that the rally of the bond is based on facts and not escape from ASEA or flight to quality. This rally will take up potenrially back to that resistance 1130 but this rally will not have lethal produce to pierce thru this 1130 the former is a perfect match. 3-Third assumption- if we have a scenerio that hourly earning are creeping up and a number strong this is a 'blow out bull combo' we will visit 1060 within few days PROBABLY 50 days support will be taken out on opening. I will wait until composite 1799 before I enter the market on long side I would assume that should pretty well correspond with my 1160. I think that market is prone to possibility one in my humble opinion 60-40. My trade would be long dip if I find the first configuration. Naturally on number where we see market expectations being met on both counts I don't have to say what wshould be the direction of the trade. Sterling was crucified today and 1002 has held so far very well.

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