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Politics : Idea Of The Day

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To: steve susko who wrote (16200)	1/8/1998 11:02:00 PM
From: IQBAL LATIF	of 50167

I was referring to Fridays numbers based on PPI data- I think we will see employment data to reinstate a strong case for economy- I expect today some strong numbers probably unemployment 4.6-4.7% and hourly data showing some strength- I will go long the market at break of 967 resistance - I expect services sector wages to show some upward movement consequently some weakwning in the bonds. Scenerios will be different for different set of numbers- 1- strategy for low unemployment with lower hourly earnings will lead to bond strength and weakness in selective sectors like Oils and Banks overall market will be weak. 2- strategy for low unemployment and higher hourly earnings bonds will sell off and markets will rally a close above 980 in such a case. I think we will see some diversion in SOX- that is some srtrength and test of higher levels like 275- last night it did retreat from test of highs however inspite of deflationary sentimsnt prevelant and Indonesian crisis brewing I thought it looked solid at 262 support- I will be very concerned on break of 262 on closing basis also a break of SPA below 962 on closing basis will not bode well today.

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