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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (36390)1/16/2001 11:17:29 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
That nascent recovery that I talked about in IIX and DOT continues,surely but steadily, if we maintain this level today on 1318 and we punch through the 1328 tomorrow I will not be surprised by end of the week to see 1380 being taken out, on the other hand if 1318 is taken out today as that is now a two days closed confirmed support and take out 1292 we will see abcolutely a new trading range that may see through the 1250 support, on that break and impending FOMC we may see a run through major levels on hte down side to implore FOMC or given reasons for FOMC to act. I see no reason for FOMC to react before the meeting if earnings can be deliverd and I see a lot of reason for FOMC to act if the market major supports for present trading range are out.. I like 650 on SOX to be held, INTC next quarter performance is on test here after market close, I would like to see INTC may be short in this quarter but going forward they may have a better visibility.. SOX is down in anticipation of that but I wouldl ike this to close little 650 plus for a legitimate upswing if INTC may blow out ggg the present numbers..AMD INTC and others may most probably act what MOT did, sell on rumor buy on news may work this time,,.. all said and done the road map I have is clearly identified and those are levels based on which I will trade on the short or long side.. regards to everyone.
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