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Politics : Idea Of The Day
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To: Andeveron who wrote (19867)9/3/1998 11:28:00 AM
From: IQBAL LATIF  Read Replies (3) of 50167
 
If the market moves to 965 and break it I will advise long 940's, I will like to see how we cope at 955 which I think will pass thru this new test if it comes- you look any way you want the Europeans gave a very negative cue to the market, we did open 22 lower and we nearly recovered everything, now as we move back into ASEA from today's close barring any late night sell off this market and Latin America if it acts the way I have projected will give new direction- the $ weakness was bad news for Europe but very good news for ASEA and Latin America- in the presently hyped scenario we will see deflationary threats being punctured by ASEA- -I will bet on ASEA and Latin America reversing from here, with major techs giving market direction, what else one wants an earning revision upward on INTC-- if one cannot heed to these signals I don't know what else will help a short... On the other hand to short the market do it convincingly below 950 for a ride to 850 area but I would think this is a very far fetched option, I will stay a contararian I am trying my best to make a good case of what is in my opinion the best possible approach.. My trade of today morning is another example of how people are profiting from this very excessive fear..On Russian civil war possibility I think spend some money go out in Oct and buy 4 times the size of your portfolio S&P options long puts around 890 level- if Russians start firing we will see this market at 6500- so nothing to fear once you do that atleast you do not loose the upside play.
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