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Politics : Idea Of The Day

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To: Bart who wrote (8763)	9/2/1997 5:23:00 PM
From: IQBAL LATIF	of 50167

Bart- This was a real strong close- much above 7825 and 926 -20 days MA- it took them three hours to take out 926 but once they took it out they went for the jagular. I will assume that tomorrow as an important day- if S&P stays and closes above 926 this will be an additional confirmation of a assault to 945, a second move to take out resistance on the top- this should synchronise with thursday afternoon uncertainity of non-farm Payroll numbers - I would suggest that if possible you take out your positions by selling a higher strike on Friday after the number you will be able to scratch this trade- but to close this position before Friday will only be advisable if 945 is taken out by tomorrow and we see a new rally building up, in case we have a softer close below 926 you may wish to run the positions until Friday.

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