JP-- On composite and internets..
I am a little ahead on the curve when it comes to global predictions-- this was my call yesterday- for me HSI was the key..I keep posting a lot of ideas for me 1132 was the resistance band and you saw we retrated from their- yesterday morning I could highlight the 11000 HSI and possible ramifications for ASEAN markets but overall these are just oportunities and one needs to take care and play them right..
Wednesday, Nov 4 1998 7:49AM ET
Reply # of 21251
1810 on composite looks to me a strong resistance to crack, it has last time also taken some time to cross but one thing would do it great earnings from CSCO and DELL, I am always skeptical of resistances when major earnings coincide with major resistances I would like to think that this obstacle this time around my be taken out as CSCO blows out estimate....
Global markets are also approaching important reistances like HSI 11000 will take some time , CAC 3665 is also an important level, however FTSE and DAX have a possibility of clear run of few hundred points.. I will like to square my HK webs around these levels and also take profits from Phillipines Long distance.. I would like that around this area as Nikkei moves up and passes the 14700 ASEA consolidation phase may offer some better opportunities if one can exit and reenter around 11000 resistance of HSI, I would rather think that all these major obstacles wil be very interesting to play, some higher degree of volatililty as strong economic numbers may weaken markets from 1138 area back to 1102- so I will be loking to take chances to trade on highs and long at supports... RUT should be doing well- like SEG is now a great mover I highlighted it two weeks back and the stock look as a mover, Immunex is another stock in smal caps..
On internets I am very akeptical with exception of AOL and AMZN which I have added at the lows, I do use them verty carefully, I was asked and I clearly indicated I don't like them , I was again asked will I short I said not yest-- the word r was extra and it was to be read nt yet.. than I wrote this post, I never stand in front of momentum and you are very right you must have made money but I would rather let the train pass me than to get involved with something I don't understand but I will rarely be short of anything buying puts --yes I indicated yesterday I have started unloading my ASEA and I am picking up out of the moneys S&P puts 900 for March contract, for every percent gain I spend .05% on my puts that is above my 1810 level that I will do religously, ..I assure you that I am on this thread every day and getting upset is not something akin to me, I love this strong grilling it makes me better and it is good for my own performance, I thank you whole heartedly to point these things as sometime you may have missed a post.. I once again thank you please note the only way we can make money is to keep our posts in check and don't get carried away, when you check me I know before writing that I cannot afford mistakes as I have responsibility if not to anyone else to my ownself..
this is my take on internets --I hope it clarifies my position..
To: +KHS (21133 )
From: +IQBAL LATIF Friday, Oct 30 1998 9:32AM ET
Reply # of 21252
KHS- You must have done very well.ggg Coming back to this internet I think these are momentum stocks and hence I don't really play them with exception of two, whch I highlight in my watch list, I would think that around 1120-28 level on SPZ I would like to buy some puts on some of these stocks, I use these stocks as a proxy and defensive strategy or as hedge against my exposure, I have done well so far I keep a very cautious outlook however I do not stand in front of the train. MARKET has its own excesses on upside and downside it is people like us here who were right in the middle of the carnage appreciated by our worst enemies as best short term opportunists, keeping our core intact and than making a huge killing by pointing oiut the bottom, the only way to deal with the market is all encompassing view, protect your bases well and this is the best approach, one thing I have learnt never short- therefore despite of my reservations I think these stocks have momentum and I would like to only act when market is tired..
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