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Politics : Idea Of The Day

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To: Lee who wrote (18517)	6/2/1998 2:58:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Lee- Thanks Lee. I will be coming back to my normal life soon. Last one week has been just plain hectic. Now that 'nuclear manhood' is well established. The reality sinks in, our stock market has taking a nose dive of 50% in last one week alongwith rupee. On capital account ruppee has little convertibility which anyway is now wiped out. I am thinking to start looking at PKF( although this sounds to me as vested interest but I will like to make it clear that I will buy it on fundamentals not emotions). I would consider this as a good stock to buy within two weeks. I would think that although spectre of 'sovereign default' haunts my country I would think that IMF will see some logic in hlping Pakistan to drift into oblivion of economic failure. To be honest these recent events have rattled me. I am not liking this SPM 1102 resistance and Russia melt down, I have and shall continue to add lot of puts for July if 1092 is taken out even on a single close basis. I think next fifteen days just do not look good in terms of market supports. SOX is looking to test 243 last support but shorting here would be dangerous. I will rather look at SPM options and even BKX puts if if we have two closes below 1090.

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