SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Idea Of The Day
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: StockOperator who wrote (21915)12/14/1998 2:56:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
The problem with any fall is that the band wagon who are calling the fall sould be smallest possible, right now except Jerry favors everyone else expects market corrections, I have seen that in this kind of back ground the correction may be range bound for some time, we have a lot of good signs like strong retail sales numbers and lot of worries like COKE but political worries will put some skids and market may break some key supports on the down side, even if 1140 is taken out the market long term trend may not be changed but it would be only after few closes below 1080 that we may start talking about levels of Oct 98 and Oct 97- we need to look market purely from these broad objectives and then determine our game plan, right now 1179 is a formidable resistance and 1165 is good support we had already on Friday bounced on this support- I would think that future is very clear- market if it has two closes above 1179 we go higher to 1230 area but it is highly unlikely only if House fails to garner enough vote to impeach Clinton may result in a euphoric rally so until Thuraday the marekt possibly will have all the ingredients to break on the upside or on the downside in case if motion passes in the house the prospects of long Senate trial would send termors in the market..depending on political read this market can be traded on short or long side depending on who wins..NDX most likely will hit its 20 days MA- SOX bouced off slightly but until I have two closes below 330 I would still think that it has some life in it- it may go back to 292 the old resistance but 330 was strong resistance and as a support it should hold well, I will agree if it breaks we go to 292 very swiftly..Tranportation was a laggard, on Friday it sold the worst and if that sector remains under pressure most of the other indicators will also feel that pressure, the market is sum total of economy and political stability if one of the pillars is temporarily suspect the market will ot be immune to that instability.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News