SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Idea Of The Day
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: IQBAL LATIF who wrote (18127)4/25/1998 6:45:00 AM
From: IQBAL LATIF  Read Replies (3) of 50167
 
Yesterday pre market opening posts no 18125 and 18128 April 24th are classic examples of market predictions based on my divergence logic. on one hand I was looking for buying puts and the other sector I was firmly bullish asking for going long at dips. In post 18128 I wrote-


'One should focus on 1118 now if that breaks we have a more then even chance to test 20 days MA on SPM-- on the other hand I would not be surprised to see composite testing 1866 within next two weeks. I will expect SOX and other forward looking stocks to hold well during this anticipated round of selling.'

And this was the crux of 18125 post--

'I think one needs to be careful with broad market, the chart action on SPM is quite strange we have a few pull backs from 1135 or to be specific 1130 area for SPX these pull backs should not be taken lightly. 1130 was my target way back as soon we had crossed 990-- however I would assume that until rotational effect is fully appreciated we may see even stronger to be Tech's weakened but notice that any other day a 36 point pullback in NAZ would translate to a atleast 12-15 points on SOX and atleast 7-8 on DDX however these indexes were well bid. I will expect if weakness continues today that towards afternoon we may see SOX firming up even if it weakens. I will consider SOX to be a buy at dips. I will be concerned below 308 but otherwise around 31,1 I may go for a long trade with a tight stop loss at 307.

<<SOX even if it weakens will firm up in the afternoon and SPM goes and tests 20 days moving average-->> This is exactly what happened yesterday the divergence and money moving into techs is now clearly visible. Our stocks highlighted in the morning XLNX and ALTR moved up smartly too but more then anything else very comforting to see that the most unconventional breaks and divergence are being highlighted here on this thread from break of BKX where I expected the index to break either at 930 or 905 whichever is taken out first we have seen DDX and NWX alongwith SOX moved ahead of the pack as broad market takes a pause and try to consoildate.

The puts in some sectors and calls in others is the kind of trading I will like to continue until we have clear ritual tests and conventional reqiurements of a bull leg fulfilled-- one of them being that a great run is followed by a correction which can be as steep at 10 % or a first test of 20 days if that fails test of 50 days MA. My decision to make a distinction in Techs and overall market was based on forward looking statements of Techs whereas retracement was based on BKX overextension. Nice to see it is coming out to be true like a pre-written script but are we not suppose to read markets to that pecision? That is the purpose and value addition we thrive on this thread. Highlighting issues which are unconventional and making people understand what is behind various moves of the markets.

It is prediction of this unique kind of market action day in day out which 'Idea' would like to highlight. I hope we can continue to provide this service to our friends here. As I write this post I think of help it may have given to a self starter who would be watching market sliding but seeing Techs regaining strength-- atleast he is sure after reading our posts here that this is something logical extension of selective market dynamics working at its best. Thanks.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News