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Politics : Idea Of The Day
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To: J.T. who wrote (9731)9/19/1997 2:43:00 AM
From: IQBAL LATIF   of 50167
 
I think we were up on the day on S&P and I would utterly be surprised if we close above previous highs without any resistance- I have my resistance at 960 to be taken out on clsing basis and than an attempt to 080 btw 980 and 1000 is pure unadulterated air- what I like the mst is that even most seasoned of the fund managers are reading this as a sideway movement - my workings indicate a breakout, I have been a bear for 50 days and was expecting PPI and VCPI to confirm the rises of NAPM purchase prices- I did not get it- my one of most important indicator MarshalianK for USA- this is the ratio of a wider liquidity measure relative to GDP- this is a very good indicator and shows excess liquidity available in economy- for corporate prospects and the stock market this indicator some time gives me signals which others are unable to look at-sitting at nearly 2 - I think is a good sign.

I know where you are coming from I can read your mind- on my Elliot wave test- my C wave of the B wave was unable to take out the top yesterday- and that does worry me a bit- but my other signals are giving me a strong upwards bias- I wish I would say something otherwise-however what makes this thread distintive is our ability to forecast change of sentiment and until basic fundamentals remain as strong as they are - unable to change my upward bias.

I start my journey today which takes me 7500 miles in 72 hours with four stops- I will be in touch but you and others are far better equipped than me to take care of this thread 'intellectual standing'. Will check last time before boarding the plane at 12.00 noon London time.
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