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Politics : Idea Of The Day
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To: Tim Luke who wrote (32446)8/15/2000 6:51:23 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
I think yesterday action of a listless opening but a stronger close is sign of good market activity, I am worried about like everyone else but that can be defined in light of August holidays as Managers stay out and lower volumes define the market moves although on the way down it is rarely an issue, most big downdrafts are on small volumes. One thing positive going for the market is the numbers of participating indexes in this move, NDX PSE have been the prime mover behind move to 1527 on SPX but now they are still 15% lower from their highs but we are on the verge of taking 1500 out on SPU that speaks a lot about how much market has boradened, this is not a narrow rally base but a quite a borad one.

Yesterday a change of heart in SOX from someone who thought a month earlier that demand has peaked brought a relief rally, we are all happy with it but 1051 is the level we need to take out on SOX and 520 on IIX if these tow are not out on two closing basis we are going to fail at that 200 days MA of Comp and NDX hard, I will like to initiate positions after IIX 520 is rung loud and clear, that will mean a good move this time to 615 are.

Your picks are top picks and I think options plus some smal positions above 520 on IIX will be a great way to play them./ fwiw.. Thanks and please do venture on this thread when ever you please..
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