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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (30734)2/21/2000 4:48:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
The double close did not materialise we are now in a different band of 1392 to 1342 if we break that lower support we go as low as 1290, Brka looks good in a falling market may be above 50000 the market thinks that its 35 billion in cash will provide him to purchase distressed securities or he has inherent advantage, DOW 10000 is the next objective and we will hit that if 1342 is taken out albeit a inter day thing.

<<if 4500 is taken out comprehensively on two closing basis my target on Comp will be 4780 area... on DOW 10500 should hold for this target we cannot see DOW moving lower as Comp tries to make a new high.>>

We did not hold that double close above 4500 and DOW kept weakeking finally in the last hour even tech oriented sectors gave up, more weakening is expected if DOW is unable to hold supports now 10500 will be serious resistance if we have second close elow that, S&P will try to test lower supports and fill lower gaps 1320 area if 1342 is out..
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