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Politics : Idea Of The Day

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To: Anne Stehley who wrote (16392)	1/14/1998 8:53:00 PM
From: IQBAL LATIF	Read Replies (3) of 50167

Anne- we are looing at IBM syndrome with INTC- we had it in June 96 fears that IBM earnings are tax oriented savings -it took some time for these pundits to realise otherwise -we have Bear Stearns and Lehman calling for a hold a downgrade last night on INTC this did put INTC under pressure but put yourselve to a simple question if INTC did not break lower supports with so much of pessimism in the market in Dec I see INTC even -3 cents to carry the day- for me as I hace written earlier this all is noise- I enhance my returns to take advantage of these anamolies and fears and every investor should develop such a plan- right now we have 260 -262 area good suppport- I see composite interim level 1530 -even 1535 area a good support I will watch out for these tight levels on closing basis a breach of thses levels may turn me negative on the market for short term but I see no problems as far as we stay above 960 and 260-62 ans 1530 on composite 430-32 on OEX- definitely you have a short case if and test of 948 area if 955 is taken out but all this needs to be seen within dynamics of the market- look arund you look at bonds look at bund matif HSI STI Nikkei China composite SOX and make your move- I wish it was anything otherwise -anyone who claims to know the market without looking at integrated game plan is going to make more mistakes- now I am looking anxiously at earnings so far so good- Apple came out alright however my upside visibility is restricted on SOX beyond 301- I will not say that for many other sectors and SPA where I am slightly more bullish- I am also watching for medium term short below 937 on SPA and 243 on SOX_ anyway watch out for my big 9-11 stocks earnings if you have to many surprises like INTC sit tight market will come your way but shortfalls on even 4 out of 9 or 11 is not a god signal- moreover if bonds remain above 124 I thin a rally potential will be capped- I will rather looking in such a case to short at? leave it for when the time comes- let some levels be secret so as to benefit from some original--instead of rehashing ggg

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