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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (18676)6/25/1998 12:37:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
I see the next resistance of DJIA at 9050, the 50 dfays MA needs to be taken out. My 53 point move I predicted yesterday on break of 1130 already in process. Composite I will continue my long positions until 1855 is taken out and we see a close below it. I see that we are heading for the old high at 1891 nad if we take that out we will see a quick run up. The SOX stalled at 260 but seeing the performance of MSFT and PSE we are heading higher if we see PSE staying above this 343 area. This also happens to be the area of 50 days MA, look at the charts and you will see why I am taking cue from PSE. I will like SPU to trade above 1118 a close below it will take SPU down to 1102 area.

Japan and HSI look alright. I would like to initiate buy on Italian webs and Australian webs. Good levels and look like we are about to turn . The news from Japan on banks and RTC type structure is not priced in the market, a aggressive statement will turn markets around in ASEA. For that we need to wait a bit may be end july. bi bi for now
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