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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (36015)12/22/2000 10:05:17 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
GDP is going along fine, the goods number was better than expectations and hence the mini-rally. from what it was and what it is. The market is in the hole but if we can beat theis 1308 resistance and go through that to 1328 very soon in three or four next sessions, above 1345 is the area to cover, we are sitting on them ost explosive of shorts in the history of NAZ (a short one too), so here we are below that 2800 and just above that 2310, what ore of negatives is left is yet to be seen but Euro strength is going to help the reporting numbers.. I think we go lot higher from these levels the levels I forsee are 1450 on SPH as the top somewhere in mid March..I see good positions to be estalbished in end of Dec.. towards first week of Jan... Lawerence Summer came out and said economy is going great and so ws the reassurance from higher airplane orders, where is the recession? that is one question the market shorts have to agree. As I have said before we have to confront the daily ugliness of seeing the statements whereas some has to cover these puts or cover the shorts on individual stocks that like we saw indiscriminate selling would help this market propel a lot higher than what it deserve.. at the moment waiting for some continue good supply of economic numbers.. I was looking at the 1998 revenue of Naz100 consolidated and comparing them with 2000 consolidate rev of NAZ 100, the naz100 market cap as a multiple of rev in 2000 is very attractive, the rev have grown but hte stock prices have literrlay gone no where, that is one major yardstick that helps me determine market levels, on that count very ordinary we are at a brink of a recovery..fwiw
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