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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (20938)	10/18/1998 3:33:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

Projections with reality---was the market moves written by Ideas? Friday, Oct 9 1998 11:11AM ET Reply # of 1333 Are you watching ASND? Looks very strong here. And as IKE says >> The bond break was one thing I came out of my long puts and left my spread naked at 900, the way bond closed 3 and half point down bodes good for the market, in my yesterday report I thought we will break 133 next week little did I realise that LTC has unwrapped bond positions so fast and also the yen/$ trades, bond is now trading below 133 at 130 and I would expect yields to move higher to 5.15%. We had this 1320 test on composite tested yesterday, but the way market bounced from their was quite impressive read this with bond sell off and you may notice the market is ready for a move up, I would like to see 1460 taken out today if we need to move above 1002 level and try to test 1030 otherwise we will be stuck with this 900- 990 range... 1460 is one good reistance for me on composite the break of this reisstance will herald buying and tinder being thrown on over sold positions.. so keep your fingers cross, I was able to buy NOKIA at 60 yesterday this is something I feel good for me IBM MSFT PFE CSCO NOKIA and Italian webs represents good value... here- of course above 1460 and two closes around 1500 on composite will take this market to 1055 on SPZ however the first and foremost hrdle is 1460- in my opinion if composite does not move nothing moves but I am sure that bond is showing me the directional change in sentiment here... lets watch and see -- trading markets in steps is fun- you see your milestone borken and you place your directional trades-- 1498 and 600 levels were few levels that signalled me much before yesterday carnage spreads which I would have not otherwised placed---

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