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Politics : Idea Of The Day

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To: George Mc Geary who wrote (13109)	10/29/1997 11:35:00 PM
From: IQBAL LATIF	Read Replies (2) of 50167

George- I am watching NEkkei and HK tonight- I thinkwe are seeing an intermediate test of lows, I would like to see HK stay above 10000 and close above that the major resistance is upwards on 10960- Nekkei also finding a bottom here- based on RSI's I would think we should see some buying later in the session- I doubt if Nekkei and HangSeng will fall rather they would probe these levels and may end 100 -200 points lower- thw markets want now an orderly end to these gyrations and today will be a classic day for these actions to play themselves out- if this selling does not stop and HK closes below 10000 I would think we will see this volatility move to next week - however I am sure that seeing what happened in Russia today we will see the resistance on 10960 to be taken out soon. I am long Nekkei and will follow this trade to the exit- very closely.

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