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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (27662)7/19/1999 7:07:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
As people prepared for a long run on back of IBM MSFT, it was one of the few occasion in post earning era that I went into these earnings coming out of my long calls and establishing out of them money if it rallies, this market is backing the ones who give a better picturs of future and selling current good news menaing that market expects that good news are limited in capacity in future, INTC failed the market it roared up on good outlook, MSFT beats and slips.. here in middle of bull run I get this feeling and had no problem cutitng my positions 3 hours beofre the close..
<<Monday, Jul 19 1999 1:01PM ET
Reply # of 27666

Looking at the market and thinking that nearly every time earning has come market has sold off, I would be preferably going into IBM, MSFT earnings replacing my 125's and 90's with 145's and 105's for Aug, I just have a feeling that all good earnings are priced in the market and profit taking is kind of rampant, so before people take profit why not I should book my profit>>

I think for me market positions are not be adored, we may see our maximum premium eroded and it is far much better for a trader to take opportunity and re-establish when market goes through this consolidation as a result of 'chronic long run'. I see some early symptoms and have taken some precautions but would only act big below 1399...
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