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Politics : Idea Of The Day

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To: Don Pueblo who wrote (12282)	10/21/1997 12:40:00 PM
From: IQBAL LATIF	Read Replies (2) of 50167

TLC- Note of sanity and about crying wolve- Market is not about raisng fingers on Ike when it is down ! Ike notes after all are not that INSANE. Giving is life - not taking and kicking back on someone's face.. Although Bart replied you adequately but this a general note to let you know if you are not prepared to take risks choice is all yours. Friday to Tuesday are two working sessions and my trades are all going up now if you are margined and making profit and you also trust me- please read this with clear heart. This is what separates a fundamentalist from a short termer- right in the middle of carnage I remained absolutely solid in my approach- you were kind enough to hold me responsible for your trades- now how about yesterday and today when each and every word I have written comes true- although I replied your letter very kindly- but today on a good day like to tell you- market is not about weeping and moaning - that's what separates a trader from speculator- you need to know this market well it will award you one day and take it away next but no one shartes with you your profits and no one should ever be responsible for youe losses. If tomorrow market is down don't come and tell me you are losing- take your own decisions but this thread is only to make your decisions easier - I don't ever make them for you- by the way I hope you realise that. Sanity is not to tell people to go short when I know what is going to happen - how insane it would be to let people go out of their postions- I think I could have moned publicly about my lost potential profits but instead of that friday was my most active day to add positions. It is for this reason- the top magazines of US have asked so far thrice for me to come and talk' Idea phenomenon'- this thread is read and visited by I tell you very very senior fund managers- I have always maintained a low profile because for me my reward is my friend Bosurf who tells me buckup on a down day and George who winks an eye of approval- I do it because I love it and for me it is nothing more than a service- to serve- if you are careful for your losses- cut your positions now and don't ever hold anyone else responsible for youe decisions- thanks for trusting me- Friday note when market was down and down and down NASDAQ 53 points this is what I wrote-enjoy - if you cannot ever thank me atleast don't throw stones, this is our thread we write our 'foolish Ideas' on it- you follow it -it is your choice - but I know it is now one of the only thread mentioned by senior financial journals- it is a result of collective efforts of regulars like Tim JT Bart Chuck Rupusky Nemer Bri Taqi Burjis Al and others who spend hours and hours to serve- To: +J.T. (12148 ) From: +IQBAL LATIF Friday, Oct 17 1997 11:41AM EST Reply #12152 of 12421 I think I will raise today the bond support at 114,26 a close below it would be serious, I still maintain 114,14 as a support but this is becoming a critical level for bond- the test of 950 has so far been successul and I doubt that it will prevail- even I think only a close below 945 will be very omniuos signal of this market testing 910- look at variuos stocks individually- there is no case for bears OK any company not making the numbers have been ounished that is what is suppose to happen- but someone sooner then later will realise that TXN CPQ AMAT are being punished along with others. Industrial production is strong and capacity utilisation is high but in light of yesterday CPI this is a good scenerio for future corporate profits- this is not a kind of mix for a severe fall ofcourse a correction yes but fall is not anticipated, I will think that as soon as bonds close you will see markets taking the cue from the close I would consider a close above 115,01 as a good sign as we may see market throwing away the superstitions of 10th anniversary and start realising that we are in a new phase of economic cycle. I expect market to regain lost ground as 10 th anniversary tribute by 'bears' come to half mast in the evning- $ is strong Michigan number were good - import prices dropped by -.1 and export by -.4, they will notice thses drops and values are being created have a good day. If you see SPZ testing 945 and closing below we are certainly going to test 910 during the course of next week- but I think that test of 950 will hold. On SOX 345 is the most critical support if we take that out we are going to go to 325. That is again a retracement within a perfect bull leg- but the big one this is not on the horizon - little pains like this thwarts attempt of bears to unleash the 'big' crash. The only thing I see this is a correction within a bull trend with fundamental in place.

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