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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (19796)	9/2/1998 3:50:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

My target today on SPY is 1018-30 area in my opinion we would face some resistance in crossing 8000 but we will do it, the 1600 and 500 break will be a nice bullish formation. I will like PSE to take advantage and would like my SOX DDX trades initiate positions Dec on PSE to get a broad entry to the markets I like-- I am thinking NOKIA TXN CA COMS ASND IBM MSFT INTC HTCH SEG as good plays undervalued.. I will like to initiate new puts only on a break below 970 now- for me it is falling markets you buy your puts like my call of 996 break and 1010 and get out of them, in falling markets indecision leads to problems therefore in markets moving from 200 days test of averages it is plainly wrong to initiate a contrary trade-- we have seen many doing this and have bben short all the way to 1230 or 2028 levels- always look at a break of a resistance or support right now we are breaking resistances- Once supports are threatened we will need some other strategy, 950 has proven once again a very solid support..This momentum needs to take out few good resistances on upside-- the ball game will not change from caution until 1060 is taken out the major resistance up their..

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