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Politics : Idea Of The Day
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To: randy kay who wrote (13972)11/11/1997 1:19:00 PM
From: IQBAL LATIF  Read Replies (3) of 50167
 
Randy- Sox battering has a very bad impact on an individual investor- the frequency has fallen considerably although our regular firiends are watching at the moment it is one of those wait and see knd of attitude- posting needs a little positive mood and when we you see your profits evaporate you have very ackward feeling- I don't think short of aggressive S&P options anyone could maintain some kind of hedge - I was looking at one of bears favorite instrument it was 815 when S&P was 925 level a couple of week back today the quote was 796- the pros who were short has been losing money- too many question marks were raised when I talked of that spectre but the fact remains anyone interested in a short fund can get bearx cheaper today from its highs of 896 it is trading at 796 -what kind of shorts do they have in the fund where even a short fund has betted on wrong stocks. I was looking at SOX premiums people who are interested to buy some puts should look at Nov SOX call premiums at 910 nearly 12 $- this is not a sign of bear market- news are pouring in that we may see some strike on Iraq - may be a drop 150 points on that - but I know one thing the way slow and steady HSI closed above 10000 last night and Sony type stocks battered at 81 will not loose attention far too long- once Nekkei takes out the 'pshycological barrier' of 16000 we may see a very quick move in the market- one can be short of this market at his own peril- the only break downs I see -if Japan sell some US paper that if Nekkei sells below 15000- HSI does not hold on to its gains above 10000- Russian and Brazilian stock markets show renwed selling- Iraq surprises the world with news of nuclear detterent! the economy and numbers are all telling me that we are finding a suport here and until we have two closes below 910 we need not to worry about a bear market-

It is understandable that 'Idea' have maintained the volume and traffic during difficult times thanks Judy OJ and others but they are a far more experienced hands- they have lived thru down cycles and have been able to withstand these pressures very nicely- why not to identify some good stocks if we see market and SOX rebounding to 320- yesterday INTC rumours were all discounted by the market today- INTC MSFT IBM alll these companies are going thru there buy backs- this is a severe correction with in a perfect bull trend which can only be called as over if Transportation Drugs Oils start slippping below 20 days average.

Techs are great investments they are more volatile then rest of the market- I have been here before and will be here again but markets is to revitalise ones spirit in face of adversity and look positively at the situation- if you are too worried you can always buy an insurance S&P 850 for Dec one contract will provide you with all the cover you need in the world- 250000$ woth trading at 15$- it will cost you 3750$ for protection from now until 19th but this is far better then SPY and Bearx where no one makes any money for me Klic WDC Tencor Amat
Asnd Coms remain attractively valued at these levels- sorry for being a bull- we are kind of out of fashion this week but it is not late but when it will come the traffic on bear thread will be ow and ouch only- at the moment - we try to sell some puts and rack in some commisions- some day we may be caught wrong footed but mark my words 'earnings disappointments are a mirage and strong economies inevitably will deliver strong profits'- I am extremely sorru for being so positive but that's the way it is and that's the way it will turn out to be- in a months time we will be looking forward to absolutely different analyst's projections.
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