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Politics : Idea Of The Day
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To: Jerry Olson who wrote (22839)1/22/1999 10:49:00 PM
From: IQBAL LATIF  Read Replies (2) of 50167
 
OJ- Every support held nicely, 1228 once again was like a magic the SPH was on that support for quite sometime and found finally the way of least resistance that was up..On composite my take in the morning was-----
<<Right now I am looking at 2320 and 1945 to hold a double close below it takes us to the 50 days which may coincide with 1192 level on SPH, that should be he level of this correction and we expect it to hold...a failure their will take us to 1130 the great support this will associate with 1780 level on NDX.....I have initially tied up these inter-relations back bone of my strategy..>>

Now look at the composite chart we held the 2320 support rather the low we saw was 2324 and on opening NDX opened weaker but gained momentum and closed above the 1940 support.. BVSP was down initially to hit 7100 low but was back up and did not pierce theu the 7000 support highlighted.. DOT 500 resistance is important however I will expect a 30% upside correction on AMZN YAHOO CMGI BRCM... I also see 517-522 area on DOT as area of resistance and one should take care not to go long at that level only above 525 0n DOT and that after one close atleast.. THe selection of intenrets was simple and I hope that it will be a nice call so far it is going great-- China fears and HSI fears in my opinion are over blown and hence I would think these supports will hold..
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