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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (30416)1/12/2000 11:59:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
<<Levels to watch as a support 1458 and resistance 1478.. any side we break we need to watch for further erosions or gains.. On NDX I would assume a new high is in order...3400 support should now hold if this rally has to move in a new phase likewise BKX 720 has to hold too..Message #30416 from IQBAL LATIF at Jan 11 2000 9:11AM>>

I think yesterday break to test the 1442 was very sharp, if this 1442 holds abd Comp holds this 3900 we can see some rally to higher 1462 resistance, it would really need some good earnings from INTC and DOW components for this market to move broadly, I will cautiously wait and see, the support of 1442 is probed today we need that support to hold if we break that we go back the whole circle and can test 1382 again, I would like to take a long trade between 1465 and 1480 area and a short trade between 1438 to 1428 on a break of 3865 on Comp one can see some steep selling to 3700, however one positive sign is that this market has closed all gaps which it had since Friday on Comp with today volatility..3865 is the level to watch if no selling has to emerge that may take the low of today,, don't forget that SPH and Comp have diverged you need to protect your NDX exposure with NDX calls and puts SPH due to contributions from BKX DRG's and other laggards may not provide the hedge..
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