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Politics : Idea Of The Day

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To: MONACO who wrote (22009)12/18/1998 5:57:00 PM
From: IQBAL LATIF  Read Replies (2) of 50167
 
Monacco if you look at my 23rd Nov post where I highlighted 1750 I also wanted BKX and tranportation to move right now what I see is a winners rally any company with good prognosis is a great buy others have not followed until the rally is broadbased the 1750 level alone is just a milestone which I thought we will reach although in the interim I chickend out at 1615-- I think a call is only valid if I would have run my huge leverage positions with my call- rather I did not put my money where my mouth I exited at 1615-- since then my portfolio is very conventional and the power of leverage remained unutilised. 1750 was my target I have reached that but 1230 remains to be tested with a break above 1200 today that is doable now and 9000 and 3000 of DOW and tranportation remain my concern. Like RUT 402 break. SOX 401 is doable..as new internet attractions can create frenzy buying in tech peripheral stocks, I will be participating very lightly with calls outside the money that keeps things going the real move will be eagerly awaited right now I am wondering if AMZN goes to 400 why should IBM stay at 160 it should or can go to 230.. when valuations become too rosy I would like to be in cash more and more and that is what I am doing right now, spending some money on calls but trying to pick the correction so far the correction has been to mild even 20 days MA was not touched..
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