Idea Of The Day Message Board

STOCKTALK

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 Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: IQBAL LATIF who wrote (18852)	7/8/1998 4:44:00 PM
From: IQBAL LATIF	Read Replies (4) of 50167

Market reading -- some excerpts of morning post---- That is how it unfolded composite took out 1918 and SOX went up to close at 259 and IIX stocks drif--- the battle with Kurlack is on-- he wants INTC on 65 I called fted lower-- I have decided to buy direct puts of AMazon and Yahoo I will not touch AOL on short side rather be long at 85 on AOL-- I am closing my IIX puts for a small profit and now going directly in long puts against Yahooo and Amazon.My call of INTC 80 pre earnings looked aggressivley silly when I called for it anyone who have made that long calll decision must be seeing its money doubled--if the purpose was to double the money time to get out if it is to go for that summer rally -- take it out below 77. Lets see-- who wins this earning battle if Kurlack puts or Ike calls win so far I am up heavily by going against his doom and gloom-- My morning post, reading the market before it opens-- 'DJIA-- I think old highs of 9212 is on the cards as earning season progresses. SPX 1158 is a good resistance and as I predicted yesterday it proved to be a formidable one as IIX stocks drifted down, although it should have been helped by SOX driven rally but such was the pull back of excite and yahoos that TXN and INTC or ALTR big moves was not able to help SPX take OUT 1158.I will be very pleased for the sake of the health of the market if IIX hits it 50 days MA at 339 , a manic speculative driven rally does not respect any of these so called MA logic but we have seen all this many time before and will not allow any of our post hyping issues which will one day cool down like Iomega. I will like 255 on SOX to be taken out where I will like to suggest some 270 calls for Aug. On PSE I think we should raise our levels on protective side and watch out for a break of 348 area if that is taken out we will see some solid reason earnings shall be more disappointing than the lowered expectations, in my opinion convoluted it may sound but the next rally is based on beating lowered expectations, MOT did that last night will we see it as a established tendency if that is the case we may see SOX moving higher to 280 area post INTC earnings, markets trade on future prognosis and not the past-- well may be the justification could be past is behind us lets see what is in store of these semis for future. On this count we may see a rally in the semis. However on one hand I need to establish the reasons of a rally on the other I will also like to keep eye on the fundamentals. I have since last 15 months tried my best to keep an eye on subtle changes it was one of these minor changes that INTC and TXN MF led me to break this impending rally. When Raj called me early morning I told him what is in the store, now I need to see if this was institutional money or will leave and take profit. I will err on the side of money that was smart and finding positions pre numbers. I think TXN has the ability to surprise. My SPX target is short of few points only on SPU my target is 1170-80 level and I think once 1910 on composite and 1918 on composite is taken out we go higher, if 1892 is broken I will buy some 1140 puts which I see as a first interim support on SPX-- my other supports are 1130 and a good one at 1118 on SPX.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next