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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (21322)	11/11/1998 10:06:00 AM
From: James Strauss	Read Replies (1) of 50167

Ike: The SOX should get a boost today from favorable Intel numbers... The SOX is up over 52% since its recent bottom... It's normal to get a 30 to 50% retracement of a major move... bigcharts.com It's better that we get it out of the way now to help give the sector a breather for the assault on 330... Otherwise, we can get a period of time when everyone runs for the exits to lock in their profits... This, of course, becomes a traders dream for entering PUT positions if the SOX doesn't take a breather... Normal pullbacks are healthy for an on going rise... When they move too fast it doesn't allow time for important base building on the way up... Without a solid base, pullbacks find little support on the way down... Jim

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