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Politics : Idea Of The Day
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To: Jerry Olson who wrote (21576)11/21/1998 5:23:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
I would think that 318 area might be tested and only than one could decide on SOX ability to move forward, don't miss that on Friday INTC TXN and some other SOX components were downgraded on price the P&F changes you see are affect of those changes, I also noticed contradicting news on ASYT AMAT Needham issed coverage of these stocks and notice MOT made a new break-- so I would like to short the SOX on break of 302 to 292 if that happens and will keep my stance until 318 becomes unbreachable... Thanks I have been looking at global positions with a macro economic view but have not missed the pulse with minor happenings... I am watching like a hawk but my levels on downside are not even touched so why should I get whipsawed, on NDX 1520-30 area has become quite a support and I am looking at that I will assure you that we will notice any change in sentiment very quickly and will play that effectively......on down side. Let market show me the direction, we need that if we just think that market is too high and leave the market to run up I would kick myself to ground if I was not a part of it and from very lows, in a trending market you keep rasing your breach support leve and if market wants to go higher don't stand in front of it- let it come down I will take care just below 30 points on NDX.. give me the break big managers sell your trophies...
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