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Politics : Idea Of The Day
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To: island mutt who wrote (16940)2/10/1998 1:17:00 PM
From: IQBAL LATIF  Read Replies (3) of 50167
 
Island Mutt - I had written the following message early this morning but unfortunately the local provider's server was down. Anyway, I see that the squeeze has already started - SPA is above 1020 and SOXX has jumped to 307 from 299. Let's see how it fares.

Small caps are picking up the signal is very ominous- I think we are heading to 1748 on composite and Russel 2000 will finally run towards its previous highs- however we need to see this 1020 to be decisively taken out until such time the shorts will not cover and once we have this squeeze we may see Russel and Composite leading the charge but I need two closes above 1020 and a decisive two close above 8200- 8250 level- until such time I will take care, I am prepared for a short check of 992 any which way it is just precision of timing I would like 1020 to be taken out and that is the way ideally pits will like the last thing they want to give to shorts is a downdraft but such is the level here that we need to look over our shoulder carefully, it is more important for a prema bull like me not to miss an opportunity right from the top the moment it appears it is for this reason I am keeping a close eye on indexes like a hawk- HSI and Nikkei along with my daily watch on several early indicators I am expecting to see any breaks on down side as son they appear- however my view on SOX leading and breaking this stranglehold is solid 320 and we get this composite going- AMES is a buy and I .like the stock nice to see it moving-- by the way in last few weeks I proposed more than 50 stocks and indexes, by law of average, I just feel that this continuity of being right for the last 2-3 months will not continue so I'm erring on the side of caution.
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