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Politics : Idea Of The Day
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To: gerard mangiardi who wrote (20884)10/12/1998 4:44:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Gerard- Good post-- Markets in Europe showing the way up-- we may see 1028 tested today -- I think we are moving higher and my objective is 1130 by 21st I am basing this on grounds of some solid results of earnings in next few days..

I am extremely hapy on one side to catch this trend but I am also shocked during the course of weekend to read the promises of a 'super decline' .. Vanishing put premiunms with increasing call premiums associated with higher volatility nearly 35% may lead the market to higher levels--- the only if is earnings should be supportive and forward looking, in my opinion most of the techs should benefit from this move up... however I will continue to short again below 1498 and 600 on BKX as far as these two levels stay uinbreached we may see some turbulence on SPZ but move higher is given... if we open higher we may see 1008 tested or 996 visited but for me those levels are opportunities.. the market is way oversold and I think composite is ripe to move up very quick I am confident that earnings will help this move up... so would be the numbers on strong economy and don't forget that money fearful of bonds will look some nice place to find new refuge.. the fear in market is the most important driving force-- the market rocketing up on fear is a market to be feared. Ike with love and gratitude from pakistan-------
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