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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (29453)10/26/1999 10:40:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Rumors in the market that a major borkerage house has been caught on proprietry trading of gold will keep me cautious, unconfirmed rumours suggest that although some of this major brokerage house clients are in deep losses, this brokerage house which was recently floated has a reputation of huge proprietry trading, thye were borrowing gold cheap and selling options making good money anticipating that gold will hit 200 $,, like LTCM the market has caught them wrong footed, these huge liquidation of bonds and jittery markets are indicative of some trouble I think that 2490 break for me is a definite defense alongwith BKX 792, this support yesterday held beautifully we touched and were up, keep watching key brokerage houses shares if they start selling you know that BKX will not hold..I have always tried my level best of give you news the moment i hear them without my bias, however I will like always wait for market to show me the direction... so far 1330 and 1241 are the outer points of the range within this huge range I define the finer move with my other indexes and I will like to keep watch on my BKX.. PSE NDX
THer inclusion of MSFT INTC Home Depot in DOW is going to make DOW very representative of US economy..good fun now we will see normal 300 point swings easy and we need to redefine our lack of interest in DOW, I have traditionally ignored DOW for its unrepresentative character now it is going to be a more active part of my pse ndx sox bkx comp inter relationship..
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