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Politics : Idea Of The Day
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To: NickSE who wrote (23003)1/27/1999 11:36:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Nick <<supports sanctity are not be second guessed otherwise one get whipsawed>>

I am hearing that if you want to understand Ike read Nick charts, thanks for helping people understand my posts.. I try my best to keep my contributions simple and straight, I wish market would be simple and straight however the markets we have to deal with are straight like a meandering river every bent has to be negotiated and every point highlighted..

I agree with your analysis I would think that 772 break will lead us to 750 or lower but the bounce will be equally strong...I have seen that markets bouncing from 200 days MA are good markets, lower interest rates my cut into BKX profits but activity in ASEA and Europe is robust and this will certainly help the BKX. In Oct we tested 690 if markets take out 1192 I would think that the investors will distribute their allocations into stocks likely to least hit, an index which is sitting at 200 days MA is less likely to suffer than an index which has yawning gap in 50 days and 200 days average like NDX. I concede that to fill that yawning gap between 50 days and 200 days on composite or NDX we need big selling..So 772 supports and NDX composite 1920 and 2320 are equally important points in this market.. I look at these points and try to corerlate to SPH... I will aprreciate if you find some time to update those two indexes also..Love and regards Nick..
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