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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (28319)	8/23/1999 10:44:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

<<Friday, Aug 20 1999 2:29PM ET Reply # of 28353 Lets watch if 1345 is taken out even these guys will throw the towel and take this thing to 1362 they would love the range....>> In my opinion 1357-1359 area is where the pits will try to short again with a stop loss at 1365..I will like to buy some 1330 puts at those levels and see if this rally turns down to test 1342 area before the FOMC, I will also keenly watch DOT 578-582 and SOX 515, if we take out these on closing basis we will most probably test the old SPU highs. The market is out of the range and this 1362 area is a strong point if any reversal has to come above 1365 the rally will feed on short covering..but I think that we may test this 1335-6 again... within today and tomorrow..

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