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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (31247)4/25/2000 9:11:00 AM
From: IQBAL LATIF  Read Replies (4) of 50167
 
I would looking at ^bkx closely and drugs breaking new high at 401. I think if we close above 800 and 401 by Friday we will see a new round of buying in DOW.. I am looking forward to ECI and GDP deflator number although I think we should see some cooling effect from the numbers and lot of forward damage is built in the market but this thing can break this 3000 support in a small round of panic selling if ECI is not in line by Thursday, although if consumer confidence indicates a slowing economy we will see as we are looking right now at the futures a bounce, I have this feeling that we are going to get the ECI numbers at or around DOW 11150-11250 I see a 300 point room here on the upside before the market direction is determined definitely. DOW looks to me making a base here and trying to go lot higher, technically it is not much impacted although its major components have taken a severe beating like MSFT IBM..etc, I see that leadership is slightly being transferred to new sectors, I like FRX at these levels with Smith Kline after that steep sell off, MRK above 73 looks most likely to hit 80, WLA has taken out 114 and now sititng at 118. my speculative play would be HLTH RHAT BVSN..ICOS good tech play..MCD going to 45..

On charts BSX looks great and needs a close watch so is MEL bank .. On tech stocks LVLT is my one pick .. one stock that looks good also is PG.. on semis PSEM XLNX are great stocks.. I will wait until Thursday to add positions, I would certainly add leaps of MSFT at the test of 60 that I think will hold we will see MSFT 60 if we see Comp through 3000, one stock that would be great add is AMD.. 124 million outstanding shares and according to Cobot a well respected internet analyst great play for semis and internet..TLAB has got great potential and looks like a go here..TBL is in break out and could go lot higher..
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