On Feb 26 1999 3:27AM EST<<.. AMAT and even DD's will after a test of 372 on SOx and 155 on DDX will rebound, in my opinion someone asked me about DDX this is going to go to 155 but it is a buy at that level>>
Thursday, Feb 25 1999 11:15PM ET
Reply # of 23902
message from IQBAL LATIF on Feb 24 1999 11:11PM EST...
<<I maintain my levels to go long at these levels- look at these 1235-39 area that I highlighted yesterday although SOX was the heaviest hit but I think I will like to go long the SOX even selling 330 and buying 410 June's. TXN is a buy in my opinion, all my trades on long side will only be executed when NDX breaches 2004 on the way up or SOX takes out 392..>>
<<SPH closed at 1241 we can see 1231ish range but in my opinion the chances of a rebound from there are equally good, a nimble trader can trade between 1235 break and 1224 area that I plan to do but it will not be until closing basis that I on SPH that I change my position. BKX held up to 802 support very well, this is market consolidation at its top and naturally it leads to painful whipsaws.>>
Yesterday was purely sector selling, SOX did test 372 but rather holding there took out the support in a panic selling and hit 351 if I am right. DDX hit as I expected 155 - as you see from the posts I was unable to go long the SOX at these levels as 392 was never hit, although 802 on BKx was held by looking at SOX I could see that entry at 350 woud be great, that is what I have done sold March 300's for 4$ and bought march 370's for 12 and change, I think I will see some improvementin oversold indexes..like SOX DDX, for me 1231 held very well, I am travelling and so far have not checked the closing but surely we were seeing inl last 15 minutes some improvements in SPH.. |
