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Politics : Idea Of The Day

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To: steve susko who wrote (20815)	10/7/1998 3:28:00 AM
From: IQBAL LATIF	Read Replies (3) of 50167

Steve- Unlike predominant bearish sentiment being patronized by most of the people on SI I take this credit with my few friends on Idea thread that we have maintained that fine line of analysis where this bull trend from 600 to 1200 over last few years have been treated in context of macro economic realities-- now I don't know about the run of the market but in hindsight our opinions on Japan CAC DAX all look great-- yesterday before Europe opened we locked in long CAC future positions I would think that Japanese move today is first harbinger of unlocking of sure short winning derivatives- that is long bond the ' whole Chicago is long' and 'short JPN futures'-- this shorting feeded the long run on the bond- now as Japan shorts are being squeezed this will result in Bond yields heading south and if we get few more MOT like earnings and good strong economic numbers we are heading for one of the greatest run on composite and biggest fall in bond yields-- if unwinding and 133 is not broken in a weeks time and Japan hits back to 13000 break and Europe momentum is taken out we and this market is in problem we will hit 850-- I would like to see that 1498 on composite is maintained and bond 133 support is taken out without these two factors being accomplished a run in DOW or SPZ would end and end miserably-- we need these bond premiums for lock outs to be eliminated along with a huge rally 1570 resistance to be comprehensively broken before we head towards the ultimate target 1150-- or 8750-- but the undercurrents are good and satisfactory-- I work with precision and I am responsible enough not to predict a course based on voodoo approach- for me trend is the best friend I am watching like a hawk and taking good advantage of this volatility-- the market 1018 and 1030 are important resistance my inkling is that we will break these soon- as we would 1570-- this is a correction within a bull market and we need to study it like this-- in my opinion BKX will also set the tone we need BKX to take out my 650 level ASAP-- if I keep BKX Composite in sight all other index matters little to me right now-- SOX for me is a good trade 175 put was sold yesterday and 220 was bought lets see how it works out---markets open every day we will work through our steps up slow and steady... like we came down slow and steady with the market and with our trades- so would be our move up---the markets will only show direction once earning season shows and confirms our assumptions that we have a strong economy and great future as a economic power also these Cassandra's calling for 'end of globalization' will see that distance is dead-- the recuperatrive-ability of mankind will emerge victorious over machinations of short term hedgers who have misunderstood the concept of hedge and pessimists...............BI take care with love from a country caught in 'medieval thinking and modern technology'--.....

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