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Politics : Idea Of The Day
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To: Jeff Jordan who wrote (33364)9/21/2000 1:31:45 PM
From: IQBAL LATIF  Read Replies (2) of 50167
 
<<Iraq has been threatening Kuwait in the past few days, but it has been kept quiet by the news media. This is a serious situation for the oil thirsty industrialized world. >>

Iraqi situation is desperate, thye are no where near to attack Kuwait like 1990 or disrupt the oil supplies from Hormuz or Red Sea, now they cannot even fly 100 KM south of Baghdad nor they can north of Kirkuk, it is comments like this where I feel a little more research would help the market is paranoid and rightly so, instead of worrying about the level just buy some long puts inter day hit of 1335 break..

With the exception of this I think this guy has far better understanding of TA than I would ever have all my life, these minor reads trouble me and make me apprehensive but in the end I trade from big picture that ihave in my mind the TA is only a help the other guys who are better do it other way around and trade from the TA and make interpretations on Global picture that may help the case, the problem with this is that it is the big picture that determins the direction of the market, like if Oil has to stay here for too long like 12 months we need to see market at 9000, the reason the market is here is that the smart money does not bleieve in that whole story of oil and that is the reason that even the TB's are holding well, like a heart attack patient we old timers look at htis sick market patient a little differently that we have been doing for last few years but this time if it is different than we are sitting at a major break which ever side it will we may see something big however the configuration of global events and make up of media scare is little too much.. However lets work on shorter parameters of 3780 on Comp and SPX 1435..to act..
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