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Politics : Idea Of The Day

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To: Darth Trader who wrote (39273)	4/25/2001 6:18:56 AM
From: IQBAL LATIF	Read Replies (1) of 50167

The basic outlook of market has changed with IBM MSFT GE INTC earnings report. The power to break would be far higher yesterday in face of a poor consumer confidence number but we maintained that 2018 level on Comp although support at 1228 was out now on two days close basis. B/Bill on semis was poor too at .62, that is for march for every shipmonet of 100 only 62 were ordered, considering the inventory glut that is being cleared out and slow down that we have anticipated this is far weaker than I would be comfortable with, however it is in this very weak outlook in March that MSFT IBM came up with some good earnings, the slow down is communication specific and internet specific, mosto f the venture capitialist who fueled last year excesses are now gone, we will see a more normal demand and hence overall the possibility that cuts would start working within next month or so will keep this 1192 area intact.. we are definitly in new range from 1228-1328 range and these kindo f retracement to 1192-1180 are very much a part of this whole cycle..

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