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Politics : Idea Of The Day

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To: Al Serrao who wrote (30579)	2/2/2000 3:31:00 AM
From: IQBAL LATIF	Read Replies (3) of 50167

Look at this one DOW quote.yahoo.com^DJI&d=3mm a bounce off two hundred days average a second close above that today and we may see some real move to 11385 area or the resistance at 50 days.. RUT 200 days I thought was much lower, I think it is a bounce ofa great 492 support.. quote.yahoo.com^RUT&d=3mm I think this is a good chart too..I follow it closely quote.yahoo.com^PSE&d=3mm The moist important that will trigger a reversal of fortunes for the move forward is this break of 800 resistance on BKX, if it closes above this 50 days MA we move a lot higher and that would indicate that corporate profitability is back in fore .. quote.yahoo.com^PSE&d=3mm he important item today would be market interpretation of Fed tightening, it has built in a cushion to test 1382 area again if pronouncements are bad if the outlook is that of a positive spin than we move back up to 1428 and once we close above that twice we shall retest 1482 area the fourth time.. but in the interim I would keep watching the various sectors as highlighted above.. if we move up the best bet would be GE to benefit from finacial move it is co-related and IBM.. ORCL ERICY VRIO NOK SDLI shall all be looked upon.. Some other stocks deserve a look, look at CSCO at this one new high and a break out a close above here and we move on to 138ish..but tricky day today.. I anticipate a move up and than some selling but test of 1400 looks likely to set this move.. quote.yahoo.com A paring comment, when I see this like the way it is.. quote.yahoo.com I am always cautious a new low for the proxy of the best investor in the world keeps me at the edge and that is going to be the case until I se some move up here taking out the 50 days MA at 1770, we are little tight here.. the configuration for a big move up are just not falling together and that is what keeping me little concerned but anyway it is good to join at the right time than to get whipsawed,, look for individual opportunities and trade then aggresively.. Regards as always to little John..

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