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Politics : Idea Of The Day

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To: ChinuSFO who wrote (9322)	9/10/1997 11:44:00 AM
From: IQBAL LATIF	of 50167

Chinmoy Roy- I think my entry in IBM will be based on bonds performance- this market is going nowhere without bonds and this failure to take out S&P 938- 941 for last four sessions can only result in test of lows- I am looking at macro numbers we are going to have some good earnings season but I will recommend positions only to be initiated if this bond revert backs to 113,14 and close above it decisively the moment this happens you will see S&P taking out the so far unpieresed resistances. A test of 920 is on the cards before Friday.

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