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Politics : Idea Of The Day

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To: Mark who wrote (6094)	8/14/1997 11:53:00 AM
From: IQBAL LATIF	of 50167

I sold covered calls long back- I don't think you are doing anything wrong but I have a feeling this listless market in face of good numbers spells little trouble here. I will rather wait and if S&P takes out the 20 days moving average resistane 951 on top, would re-configure my bias post that. IBM INTC AMAT are good buys but I will not hurry I will rather wait for trend to develop and I think we need to go further down, the specialists shorts and members shorts are qualitative indicators, today a -.1% would have made them exit in hoardes and we could have seen some serious short covering but in absence of that smart money sells very very devastatingly and that is one of the several reasons I am little quiet, sitting and enjoying some interaction with you guys. This can alll change if our basic indicators give a different picture but so far hands are really tied.

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