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Politics : Idea Of The Day

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To: JDinBaltimore who wrote (29886)	12/2/1999 11:45:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Thanks for the sites, I think we are seeing the break of 1402 and we rebounded very well from 1392ish area but I think strong housing will play towards the end today. We are at the upper end of the range but still not out of woods, I think market will soon see a huge rotation and lot of the stocks which have not really participated in this winner takes it all run may finally see some momentum on the upside. I see more room in the DOW type stocks than NDX and hence any break above 1428 will only come if these lagging sectors may take off, after all strong economic numbers may impact real companies less as profits will be good however as most of the NDX companies are evaluated on rate of discount that in turns depends on sum of risk premium and long term rates, a FED hike possibilities will certainly increase the discounted rates and hence a kind of re-adjusment of values in 100 leading winners takes it all stocks..I will probably think that 1409 area is important today and we can see some backing off if markets towards the end starts concentrating on housing starts numbers..

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