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 (19810)	9/2/1998 6:57:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Look at Globex today-- when it should be trading higher it is lower, the reason being Globex in last few weeks have been quite a contrary indicator it does trap lot of people and probably the trade on globex would be long not short, if market opens soft we certainly go and test the first resistance at 7908-- yesterday when it was trading higher nearly 25 points I made the observation about a trade around 955-960 area and referred to 7500 a very strong support-- in my opinion I will like to think that 970 area is now the support, moreover we will like to face first resistance at 7908 we had difficulty breaking this downwards took a lot of softening effort- once we broke that we were down quite a bit it was this simple level I synchronised my puts at 996-- Today I will watch the action around 7908 very closely, if we take that out we go and close above 8000-- if not and we fail for a trade we can use this resistance as a small point ot make money on the downside-- I will like to be long at supports like 964--978 area and will short around 7908 if the idea is to buy puts nothing is better to buy some Oct at these levels--- it will not take off on first attempt but afternnon the second attempt may just do it- so you will have some leeway to play. I will like to close out my SOX/DDX naked puts and let the long call at 210 and 110 run-- it was a good trade-- so was 45 put on TXN would like to take out the put as premiums will dry, on long side I will stay with SOX until 190 is taken out, but I see a great run possible here, BKX long calls still look nice for Dec... I would think that some of the earnings will surprise many a bears-- in France the few I follow have been quite satisfactory...... One needs to be quite nimble here, trading is only good and levels are only good if one can translate them in to bottom lines..

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next