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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (16956)	2/18/1998 7:23:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

Look at PRST- a second close above 27 and we go to 34 area- ADI is also in a break out pattern- but watch out for this one CNet- I like the pattern of the stock Is Shiva rising from slumber- I think so- watch these stocks carefully- I think 310 was great close= Locals were trying all day yesterday to break thru 1025 they were short yesterday against the City 1030 they tested 1033 and backed down- this is virgin territory but today's takeout of yesterday resistance with ease shows the strength- I don't know how a short can keep running positions from 850 it does not happen in actual life when I run my futures contracts our stops are really tight cannot afford to be genrous beyond few supports resistances- the locals yesterday ran SPA to 1033 and than closed out there shorts at 1025-27 area but today the test of 1025 in place and SOX 302 area we just ran up to 310 - as I have explained many times earlier that 320 is on cards allow me to say above 320 I was looking at my TA it is all air up until 380- but lets watch carefully for 320 to be taken out - I am watching my BKX target of 784 new high to be taken out- we did not see 758 but ofcourse 764 was tested- on OSX I will be short term long looking for 107 area- try to time this with rising escalation and rehtoric with Iraq- I am looking at 1037 as resistance would like to see a double close above this otherwise we may see back and forth filling betwwen 1022 AND 1037- raise your level of protection to 1022 if you see a close below 1018 go short term short- just don't let euphoria overtake you- 992 the big support -Let me tell you interest rates next move will not be what people are expecting more later on this subject- covered calls- secure your profits and have a good run. At these levels don't get crucified with whipsawing trades- short long short then long--500 points or 50 these guys models have just given up they never had one- look for simple levels 992 the big sapport- look for 'locals' term for Chicago pit boys- they run stops up and down but once you see a drift below 1022 and you don't see it coming back get into short side 1018 break is my level- if bombing starts be short for first few hours go long 1008 or whatever limit down you may see- time to make money on covered calls and short side- Terms of endearment with the bears-Not at all surprised by this action of today this is my 'bhumbo' late but almost there -going up slowly and steadily exactly the way I posted post May 1997 when 770 was taken out and break of 1000 on DOW-- the accounts will now be hedged 10% out March 2 to 1 calls are in order- get the max benefit out of your longs.

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