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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (21445)11/16/1998 5:43:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
As we close above 9000 a fry cry from Oct first weeks levels, I think about prospects of rate cuts-
1- If we have rate cut the market will go up 100 points and set back to 8700 levels for new players to come in, I doubt we see old highs on DOW being even cheked or attacked, RUT will swiftly move on to 435 within five days of cut and composite will take out 1900 to 1940- NDX will cross 1500--after a rate cut as DOW settles to 8700-- buy the rumor sell the news and new hands take the charge as profit takes move out we will see 9300 taken out within three weeks and we test 10000 as we settle below 9500 to end the year at 9400-9700..
2- If we don't see a rate cut we will see a draft down but may be a relieve rally anticipating that FED views as global recession as a far fetched threat..I would think that chances of a rate cut are 70 to 30 I will sell in a rate cut rally at point of rsistances and buy in not rate cut enviromentat point of supports the amount of mney ready to jump in according to my sources is incredible every one wants to long at 8700-- they messed up this whole rally so royaly that now we al know where everyone is beelning the problem with market is like at once in life time opporunity to go long at 1320 we don't see much of an opportunity if every one wants to get in, there is just enough selling to absorb new buying- so if 1390 is ever reached even if DOW is not breaking I will tend to buy- lets watch and see the market it seems likes to go higher whatever happens tomorrow///
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