Idea Of The Day Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: IQBAL LATIF who wrote (14863)	11/21/1997 3:44:00 AM
From: IQBAL LATIF	Read Replies (2) of 50167

Morning Comments- My yesterday report holds good for today- SPZ- We took out 960 on closing basis the next step today where do we go from here- with AMAT behinds us and DEll ahead of us -HWP' syndrome I talked about once again showed its viability so much of bad news is built in that any bad news is a good news anyone who has been neglecting this is doing it at its own peril. 980 is a normal target for me a close above 960 is a must supports are now moved upto 948 presumably only if we close above 948 remember technically this is only going to be a double close over 948 if it happens today, I will like 980 to be a resistance on the way up 970 is also a credible level of resistance. 955 should hold. On DOW 7800 break is a classic break go back to DOW perpetual charts draw a trend line adding all the major tops and join the points on intraday tops 7800 was the biggest resistance a doble close over that seals the fate of lot of shorts, for me today is an important day I need a close above 7800 and bonds slightly lower to say 118,14. Bias remains upwards. A break of 948 is a bad sign my major supports are 928 935 940 948 955. Resistance 960 968-70 978-80 areas. SOX- My predictions of SOX trying a 5% higher was on the ball- like my Nekkei turnaround predictions where I wanted to go long for DEC- I think SOX will take out 320 and will slowly form a base there for atleast a week. 311 to 320 will be quite a move but psychologically an important barrier to cross, if you see SOX breaking 305 and closing below you will see S&P taking out 955, protective action is a must but unfortunately the risks entailed in protective action are not area I can cover here. Selling some some DEC covered calls and buying some puts with the proceeds is a safer bet. Wait for a double close below 305. Bonds- I still look at 118,14 as first test of support soon. On upside 120 is lee of a possiblity move down a retracement is good possiblity. Nekkei- Moving forward and marching ahead squeeze sequel one is on- the red dog will barke quite a bit. 16800 is an important level to breach I expect that to happen soon and so will be 8000 on DOW, 10 th Dec package will surprise many, I look back and have referred to it several time go and look at the charts of April 97 move from 750 onwards look at the macro conditions and you will be in with new frontiers of explaining next moves of the markets. I see no need of getting to protective the markets has leaders and direction and my darlings are dancing avec les loups in a perfectly. Bellwether- The less said is better- to predict movements day in day out is a thankless job if you are wrong you are criticised if right it is considered to be a vital part of projection. I am looking back at my predictions and relieved that most of the stocks are coming out of blood bath- my levels of INTC IBM AMAT TXN like 80 100 35 100 are decisively broken will these levels form a great support -yes I think so- enjoy the ride and if you see softness below 305 two times we will discuss a new protective strategy.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next