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Politics : Idea Of The Day

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To: Jerry Olson who wrote (17962)	4/16/1998 1:15:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Last week this thread stood for composite goes higher ( up after Kahuna warning letter) if 1810 fails to break- that is exactly what hapened it is right now doing that 1862- I will like this to keep moving higher and zoom past like SPM at 992.This thread betted on long SOX it moved up 8% in two days. Idea went into numbers long INTC long and that's the way it has come touched 80 and withdrew. BKX consolidation we highlighted it and yesterday was the first day alongwith Nikkei longs at 161 I see no reason to worry about future course of market.DDX zoom past 200 and now hovering at 209. NWX and SOX with DDX will in my opinion are the agent provocateur of this move. The divergence part is slowly and effectively playing its role. SPM yesterday movement are indicating a new level where I would like to buy some puts on SPM watch out for a break of 1118 now. This break will reveal a possibility which market is ignoring we may see our sectors moving but some others pulling back rotation from Inteernets and Banks to new find love with may be our sectors but for this 310 has to be decisively taken out twice. A break of 301 I will close out my very profitable longs of SOX. Look ar ALTR XLNX LLTC the programnable chip business FPGA/CPLA business- look at the forecasts and who are they selling to-- Networking and Tel. If COMS CSCO ASND LU do well this particular sector flies. As a whole we should have seen the full effect of ASEAN malaise fully reflected in the numbers however what we are seeing is decline but a pick up in demand in Europe- now even for next quarter a tradionally weak quarter the fore casts are positive. I am long and have talked about ALTR XLNX if TXN brings and upside surprise I assure you we go and test the 350 I have always been talking about. Friday will be the key if the rally is to maintain forward momentum. A earning driven market is most difficult to short. I have faced similar questions from people at 850 on S&P and BKX at 690 or shorting WFC at 295 they never thought that markets are more than few charts they look at, if charts and half cooked facts become order of the day the markets will dance to computers they don't and will never the human dimension of synthesisiing information is far sharper and accurate.

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