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Politics : Idea Of The Day

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To: debby who wrote (33702)	9/28/2000 8:00:10 AM
From: IQBAL LATIF	Read Replies (2) of 50167

<<who would ever think that ICGE would go down to 15, >> DOT has made a low of 690 plus that is the low DOT has seen since 4/28/99, and if we take htis out we are looking at capitulation to 490 that would take Comp to 3200 area, for me IIX PSE and SOX needs to hold these levels, DOT break should have taken IIX through the 497 area but it did not and stayed above the 502 level, SOX second day in row went through this 870 level, with LU INTC TXN making lows I would have thought that market should be selling off much more, the chances of 1405 on SPZ (that equates to 1382 major support on cash) are bright, I will try to see today to dabble in some of the oversold areas with options like TXN 50's and ICGE 17.5 LU 30's atleast 6 to eight months out.. yesterday list from Wall street digest will also be high on the list whatever i will spend I will use 7.5% to buy 1382 options on SPZ 20 plus points below the 1405 area .. DOT and SOX alongwith PSE shows that market can have some chance to bounce.. if..we get some good news on corpoate front..oil and euro. too many uncertainities and lot of opportunities..market are great when you feel sick...

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