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Politics : Idea Of The Day

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To: Judy who wrote (16636)	1/28/1998 8:59:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Judy- OSX I just want you to see that 85 is a traditional good support and I will watch this index carefully if it breaks 95- I see a possibility of drift to 85 but I remain bullish as SPA tests 980 we may see OSX taking out my 103 resistance I will be looking somewhere around that area to go long but I am very keenly observing it- for two reasons one I like to see Oils moving alongwith others beaten down sectors and second from a macro point of view renewed weakness in Oils will result if commodity Oil goes thru 14$ mark if this happens I would like to see the negative impact it may have on first quarter profits. Oil demand slowdown big time and break of 14$ is bad news a very early indicator of trouble across in second quarter.

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