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Politics : Idea Of The Day
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To: JDinBaltimore who wrote (29915)12/3/1999 12:50:00 PM
From: IQBAL LATIF  Read Replies (2) of 50167
 
<<Although the futures are up so is NDX and Comp very very strong, but hourly earnings at .4% may not give enough momentum to the market to close above 1428.. but with huge liquidity as a result of y2k we may see a move above 1431 if it stays above that and 3500 on Comp is hit we can see SPZ at 1455 in course of next week and 3750 becomes the comp target,if we withdraw from 1428-31.9 area we may close more to 1402ish area.. or below comp 3400..>> hourly earnings were .1% correction..

Now where we are right now at 1446 this is the area of resistance and s I highlighted in the morning that once we got out of 1431 area the spike was fast and best of it it is a very broad rally the bonds have slipped but not below 6.25% level and a close above 1445 will take us to next level.. I think it is nice to see the laggards now like BDK G even PG or JPM's if this rally is to continue it will be on DOW based stocks as NDX alone does not have much more keg left to take it SPZ higher if DOW starts taking of and the laggards start running due to strong economy no inflation story we may see the weak sectors to perform well..so will DOW... however the yields need to come down from 6.25% and even break that 6% to justify a new move.. great move..
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