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Politics : Idea Of The Day

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To: J.T. who wrote (27360)	7/2/1999 12:27:00 PM
From: IQBAL LATIF	Read Replies (2) of 50167

JT..I think bond yields will move lower as inflation worries subside. On PEG of S&P I would think that in this era of 'surpluses' we would see dearth of quality assets, global world class companies may trade at astronomical P/E ratios, however, with growing revenues you may see that these assets may be traded at premiums. Look at internet stocks they bore no resemblance to PEG but are still in lot of demand as internet promises new horizons. How much of that is hype or reality is a open question? We are unable to answer right now, but companies like CSCO MSFT INTC TXN IBM KO can continue to trade at premium if 'globalisation' continues, government lack of demand of capital due to 'surpluses' instead of chronic deficits will make assets like equities more in demand. Lower cost of funds based on prudent spending is a unique phenomenon this has brought and continue to bring better opportunities for the corporate world. I know it is practically very difficult to invest if we vlaue the market the traditional way hence for me market gives me the direction, if earnings are good and if analysts are comfortable we would see new highs made by this market. I trade the market with some major supports and major ressitances. You have noticed that just by simply using the method of 'invisible hand of market' leading you to new highs I have so far been able to predict the course of the market for my own good. I will continue to read it like this, I have just moved my trailing profit levels to 1337.. and until that is hit I will be long in this market. For short term play we can see 1400-1410 reistance formidable it may take a week to break in thin volume we may do it for once for definite it is good to sell and buy at dips.. I will think that NDX 2255 is a good support so is 1400-10 on SPU where one may sell and get in around NDX 2255 support on a small correction I expect once we hit 1400-1410 area..

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