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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (18410)	5/21/1998 3:19:00 AM
From: IQBAL LATIF	Read Replies (2) of 50167

Since my last post on levels SOX is now on my of 285 level- I will cover my long 290 puts if SOX remains above 280 and closes above 286 today. I will also try to look at composite and take a cue from composite a close above 1850 will give me a lot of reason to reverse my positions. I will like to add new positions in semis only above 298 on SOX. INTC TXN all look good but I would rather wait. If SOX takes out 280 which I doubt we may see 265 very briefly at that level I would consider SOX to be oversold. I will once again draw your attention to 'webs' on ASEA. SOX and SPM divergence cannot exist we will see if SPM atays above 1126 today that SOX will pick momentum and close above 288, this rattling was good and healthy for the sector. If SPM is unable to close above 1120 we will see this rally faltering and we may see futher weakness in SOX which may lead to new opportunities. I will like to remind my friends here that for a long term investor we need to look at these corrections as an oportunity, however, it goes without saying that we should be able to identify these breaks within a bull trend that always help to enhance one's bottom line.

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