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Politics : Idea Of The Day
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To: Lee who wrote (30359)1/5/2000 12:59:00 PM
From: IQBAL LATIF  Read Replies (3) of 50167
 
Lee-- I would like you to look at this 700 support on 690 BKX it dates back to two years, the best part of the story is that two years of earnings and profits and economic growth are all built in this support, this is one classic example of how severely the market is discounting interest rates hikes, the financials happen to be the proxy of economic health and interest rates expectations on both these counts I can safely assume that BKX is discounted, but playing within the limits is the name of the game, today as we had this outer limit of 1382 highlighted I was able to get in at the opening unchange saw that 20 days test of NDX and got out at 1394 for a decent return, however I do not carry longer term puts the sleection of killer SPH options puts on futures where you pick them three times your exposure give you good protection from eroding premiums, that is my strategy, unfortunately eroding premiums are the problem for any trader, one thing replace them by cheaper out of the monies as I keep highlighting and second play the breaks with lethal approach set your parameters and get into the thick of things, that is how even in two what looks to be very very tough days we are able to milk something.. I am looking at IBM.. I have 115's.. when we hit the lows on that stock.. I will ike 3500 to be tested and 1418 to be seen as we proceed in the day and 3387 is my target to play a little on the short side.. but keep loking at the oversold market the NDX is hit the DOW refuses to budge in this market usual tools will not help...
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