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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (29406)	10/21/1999 8:39:00 AM
From: IQBAL LATIF	Read Replies (3) of 50167

I would assume that market would like to test the lows on SPZ again and that resolution of the single spike down may be on hand, the formation of double bottom here may be important. ANY lower opening that rebounds to 1386 rea is a good option play on the down side. Even the yields may spoke that .36% resistance for a single close, however the stream of good earnings and non-inflationary data should help the market to recover from the lows. I would like NDX to make a higher low from last week, my levels to watch would be SOX 483 and DOT 688, and BKX 760, if these levels are taken out decisively we may see as low as 1260 on SPZ. I would have thought that IBM earnings would satisfy with strong showing from EMC and AOL and some other stocks but since forward looking warning was not built in the market most likely IBM may hit that gap if ... I would like to cover the short side at 1268 area.. and play it short again from 1261 to 1245.. these are my limits for today, I will keep a very close eye on NDX low of 2325 of just few days back...a close above 2414 today would be a second close and a bullish sign.. good luck and trade your range..

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