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Politics : Idea Of The Day

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To: Susan Saline who wrote (34337)	10/5/2000 10:20:59 AM
From: IQBAL LATIF	Read Replies (1) of 50167

I think that technically it is a gross error to consider before this break of 1415 area support on SPX or 1436-38 area on SPZ that we are going any lower, look at these charts and you will see that 1415 has been tested 5 times since 5/26 other dates being 5/31 7/28 7/29 and three times in last three months with two times in last week, now this for me is a very open signal, since I deal with trading opportunties on daily basis with band of supports and resitances I am now looking at this 1336 support if violated can be played on the short side and on theup I am looking at this 1444 area on cash,, of course if i get this 1444 close on two days basis I will think that lot of shorts will have to cover.. even SOX close above 850 will deal of kind of blow and look at DOT that made a second test of year low around at 619 area, so for me my trigger is SPC or cash or futures SPZ, that is what counts in the short term and long term, the direction form that mother signal is positive unless th market reverses if we see that exit longs below 1411 and establish defensive posture..

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