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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (27195)6/28/1999 1:21:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
We are looking at a good test of SOX at 450 also we are seeing a good test of lower ranges on DOT 562 area, I think that we will still be range driven 1355 on SPU will not be easy to break until Fed meeting and annoucement is made more for the direction of fed than any thing else. Although our triple bottom prediction on DOW came true we have this overhead resistance on 20 days MA. SOX has been basing very nicely so has been the RUT around 400-440 area, in my Opinion this market wants to move higher, the rebound at 450 and other indicators like PSE indicate that market wants to move higher, for me the good area to look at would be RUT stocks.

I will be looking at few internets stocks to enter at 560 level with a stop loss at 550, I am looking at DOW if we have a rally in SPU and if we stay above 1345 we will see a good rally in laggards like internets, NDX 2115 will be intial sign to long whereas 2075 will be area to square and short SPU below 1335...
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