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Politics : Idea Of The Day

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To: Joe S Pack who wrote (23428)	2/11/1999 4:07:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

Nat- The market was trapping the bears down- from 1211 on SPX to this 1252 in a two session since yesterday morning, with nearly every single index making a move is the classic example of a snap back from a 50 days MA.. I highlighted the fact that take care this is the first time we have seen a test of 50 days on SPH since Oct.. It may be about political issues being resolved but the fact remains that market is about simple charts, simple approaches and the action in the pits. The pits have no mercy on missing lambs gone stray with 'nowhere to nowhere charting'.. The pits like to slaughter them... The pits are the movers and shakers the make these traps and the lambs fall into it only to be taken to the chopping blocks.., they move the markets and Idea reports it to the second, the result is 'the bear trap you see today'. It is lovely to see it and will be great if we have close above 1262 tomorrow, on downside until 1235 'decisively' is taken out we are very much a part of bull trend.. continuing..

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