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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (27139)6/22/1999 9:20:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
The US rate fears will haunt the market if we hold 1355 support we may test lower but will back up even after a test of 1352.... I think Oils will be under pressure and we may see some profit taking but i expect tyhe profit taking to be limited and if we hold this jkey support on SPU plus minus four points we will be back up.. I will like to still concentrate on DOT and IIX to get the clear direction of Comp and NDX, also I will see SOX and PSE to give me a good prewarning of major fall if these indexes break we will see the gains in NDX over last few days waning.. So one of those days where on one hand is the possibility of going higher and getting the old high pierced on Comp and on the otehr some profit taking as old hands position themselves to take advantage od a dip based on fears of rate hikes and stram of economic numbers... The good traders will try to gget out and get in if the range is wide I will determine the width of the range from fluctuations in NDX and COmp.. regards//Ike
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