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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (19813)	9/2/1998 10:01:00 AM
From: IQBAL LATIF	Read Replies (3) of 50167

Pits information-- For me this is a perfect range trading market-- we will trade in between 950 and 1060- I doubt without a positive earning momentum or real change in the outlook we will be able to break the dead lock on top of the range- neither we will be able to close below 950 without some real change in circumstances, this consolidation in case of strong numbers will move up to 8600 band but I would think this is a good level-- The pits will be long at support and short around 1017 area so if you want to be long go long 990 or whatever your strategy is and short around 1017- we can see 987-- the good support is 964 in case of weaker than expected numbers however this will drastically change if numbers come weak which I think will not-- the earning preannouncements will soon start coming but market is priced now for a slows down it better be a slow down --otherwise this band will not stay-- this is lower band of my target--

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