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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (20782)	10/5/1998 5:02:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

When I was writing the previous message the market on Globex were at 1002-- Europe had opened sharply lower however I see some short covering in Germany and CAC after a second trest of 2960 area is back above 3000 level, this hide and seek will carry on but if we are unable to break 1000 today I would think that bond will see prices softening and yield rising-- the strange element is that Japan breaking below 13000 was suppose to be heralding new selling Why is Europe bouncing off the lows is strange? If markets ignore Japan lot of shot needs to be covered on Nikei futures-- today I will not be surprised to see Globex actually opening higher instead of sharply lower--- the sequence of events are lined up in a manner that if we break the supports on SPZ we will see some big time programme selling hitting the market but if Europe snubs behind the market moves and continue to rally we may see different scenario developing-- this is not a bear market within a bull trend a correction and test of stronger hands resolve-- deflation the way my Professor taught me in Ecoomics 101 does not come on the back of nearly full employment and industrial production in Aug of more that 382 billion $'s-- .80 percent increase over the previous month- deflation is associated with 10% unemployment falling income and seriously hit manaufactring sector-- These present movements are market self corrective devices working at its best-- the markets overvaluations are being wiped out, hype is being mellowed but we will continue to see the growth in US economy and 1150 remains my 80 days target with or without 850 test... I need to see composite and BKX take out 1675 600 for a credible move-- watch out for important signals from these very important indexes...........

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