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Politics : Idea Of The Day

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To: Jeff Jordan who wrote (35237)	11/17/2000 7:48:03 AM
From: IQBAL LATIF	Read Replies (2) of 50167

WE are retesting this 3026 area, in 173 days long 41% minus Comp bear market as Walker newsletter call it, this is an important area,, like 1400 on SPX we need to maintain this support, imagine if BRCM and PMCS AMCC would have seen these declines on Monday. We could have easily seen 2800 once more.. I would think that DOW SPX and SOX hold the key to resolution of htis market, I will go defensive below 1352 and play with long put positions between 1369 and 1350..however the real issue is to watch the SOX that is retesting that 675 area after quite a few tests of 601, in view of AMAT ALTR buying that 675 area which has been a resistance last year will now probably act as a little support.. DOW and SPX are sitting at important levels too, today my watch will be Comp 3026 on a closing basis inter-day 1382 break would be nice for the market if we do that we hit 1392 wall.. however Friday I would assume would be little volatile I expect that we see 1382 and 1369 test within a session..however NTT SNE forl ong term holders deserve a look..

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