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Politics : Idea Of The Day
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To: Investor2 who wrote (19377)8/18/1998 3:40:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Russian devaluation was fully priced and dicounted in the global markets yesterday, like every think else important I dealt with it and considered the devaluation as a factor which not going to hurt the markets. This was big anticlimax to the egos of event driven ''short'' their exotic charts based on what Globex does or how world markets react to events as such were left in a lurch as market opened yesterday 2 point higher closed out most of the Globex shorts then went down to look for anyone who wanted to hedge below 1060 hit my level of 1055 or a point higher came back right up to close 20 points higher as these shorts ran for cover, this is pure 'Bull market'and PITS at its best.What I call a clean hair cut with precision and it now funny to read the posts of these guys who were posting since Friday-- stories of gloom and doom.

The easiest thing is to play both sides of the market, if the markets are going higher it is a retracement and it breaks a support it is an indication of a protracted bear market, when the market are up these guys give new wave a benefit if doubt and if markets are down upteenth wave is brought out to life.

I am looking at all of this very interestingly and seeing slowly and steadily all this exotic stuff is being exposed as minus technical paraphanalia as ''VOODOO'' chartism and-

exchange2000.com
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