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Politics : Idea Of The Day

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To: Burjis S. who wrote (15097)	11/25/1997 9:57:00 PM
From: IQBAL LATIF	Read Replies (2) of 50167

Burjis-off topic Thanks for the update- I am confident about market restricted within a tight trading range, I see more a possiblity of an upside break then a down side 942 break- on globex we did test 945 however market is showering coldwater on doomsdayers with its continued strength. I was happy to see Nekkei trying to take out 16000 lastnight I think it closed slightly lower but the signs of greatest pessimism and panic are slightly vanishing.I am looking at the performance of IBM MSFT G GE and other stocks anyone who thinks that a 3$ movementt in a major stock like IBM is an aberation and normal within a bear market are going to realize soon that market is not about 'events' it is about a fundamental trend if you observe closely that this historic rise of markets was associated with stories of 'gloom and doom' Orange county Barings bankruptcy and Mexico problems- these growing economies will go thru this painful adjustments however slowdowns in corporate earnings will only be affected if 'global era of growth' slows down that is perfectly intact and this market is going to surprise a lot of souls, market by holding on supports and making higher lows along with good picture on intrest rate front is giving clear indicators that it wants to go higher.Specialists short interest and other indicators only confirm a fact that soon we will make an assault to 960 and take it out. Nekkei although apparently languishing will by 120-15th of Dec take out 16800, we have seen DOW closing above 7800 last night and SOX rebounding from 290 like a rocket although I anticipated a test of 288 and 942 but SOX rebounded from 289 and SPZ from 946-47 intraday. I liked my bellwethers movements and think today we will see SOX attempting 300 and SPZ 960. Have a good day. I am not getting my e-mail on msn- kindly resend to- rzz@isb.comsats.net.pk this is my e-mail during my stay here. Things look alright lot of work but I have gotten into things from the word go- I am looking and trading HSI and Nekkei JPN very actively- last night I sold 150 Dec and bought 180 Dec for no cost, probably I will be out of it today with a small margin but volume makes up for that, I am especialy liking SNE and Bank of Tokyo will write soon, the social work is great leaving me absolutely with very little time however my activity with NY remains robust.

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