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Politics : Idea Of The Day

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To: Hawk who wrote (15319)	12/7/1997 12:47:00 AM
From: IQBAL LATIF	Read Replies (4) of 50167

'Inflation - Deflation mismatch killed the shorts.' Shorts are paying a heavy price for 'fabricated perennial disasters and consequences of crying wolve' to often! Markets not words are judges- Please keep it thart way. Marc- Unfortunately I just don't believe that INTC will keep lagging the market- Kurlak has a big followwing amongst instituional investors and TXN and INTC some of the other stocks are under pressure but market in my humble opinion have fully priced any negative but overall market and strong economy does suggest that these horses are prematurely being outcast from the big rally. It is with this in mind I am fully concentrating on SOX 280 break and triple bottom I think it was nice to asee SOX coming back up and closing above 290 I ofcourse totally agree with you that bellwthers have to perform well for market to go higher- In my opinion INTC and TXN will break these shaklels soon- and I will see a 300 break but ofcourse an inability to break 300 will not be good for market as well as S&P- I am firm believer that if SOX remains tied down at 290-300 region my strategy will change I am working on March contract levels and will by Monday come up with corelations- bte SOX and S&P my target remains 1000- a second time go and I am 70% sure we will take this out with SOX and INTC breaking 309 and 82 mark- remind me at 1000 if the two marks are met- on short side I will not hesitate to play the market for 15 days with a bearish stance if markst breaks 948 and SOX takes out 280 I think we will then see a visit of 250 however this possiblity in my opinion remains remote- I will advise caution and close eye on tight levels- as a puritan correction chartist and big picture proponent I have been unashamedly bull or a prema bull for me 770 to 996 was one leg of the bull market a 226 point move a correction took market to lows of 845 intraday a correction far in excess of my puritan parameters a close below 870 and a reversal and couple of intradays tests- we are now attempting new highs with captilisation much more diversified and evenly spread we attempt these new highs with INTC at 78 not 120 or IBM at 111 not 150 or G at 96 not 108- the tech sectors is a univeral pan and for me this is a very dangerous configuration- I have tried my levels best to let people be aware of running short positions but now the configuration is becoming very positive- to tackle a new high coming from a 58% correction is entering no man's land- me being a bit conservative has come oput with tight targets to short this market if shows sign of weakness. Keep your eyes on INTC break of 75 bad news for SOX and market -again MSFT breaking 140 IBM 108 and SOX 280 are signs of trouble enjoy the ride otherwise, this is the safest course I am traversing and would recommend for an astute investor- in my dictionary to watch market fly to new highs without being a part of it is 'incapacitation and freezing of minds' you have now a perfect setting to play both sides with greatest possible skills- everything which goes up will come down but to be unable to make a distinction between a correction and end of the world is a unpardonable sin for an astute investor- the break was false it was flashing out of weak hands now the real game starts and I assure you thjis market is not going to go anywhere if I react on break of my levels- an upward bias with a very hawk like view on bellwethers and BONDS_ I predicted break in bonds now two weeks every leeter of mine repeated this theory and now bond selling with market strength is very much a part of reraction and relief which market has delivered to cassanderas of doom- they now realize althought belatedly that 'deflation' and 'inflation' or anyother disaster cannot be sold for ong haul to this market.

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