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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (24699)	3/25/1999 10:31:00 AM
From: IQBAL LATIF	Read Replies (3) of 50167

I am watching this rally, is it a short covering rally or a real one, I would stick to my observation of the morning, if BKX stays above 850 and NDX stays above 2005 and 2003 the 20 days MA and 50 days and if it stays above 2015 today the whole day it may drift to 2003 but I think this new buying it is not short covering rally, the leadership is coming back and that is a sign one cannot ignore, but keep a watch on 2015 on NDX and first sign will be composite 2400 around 2388 break I will ignore, also OEX 638 is critical...But to go higher take care of lower levels that is art one should not forget.. A bounce off a support and side way trading pattern with higher lows and yesterday low is higher than the low in mid feb and early March indicates to me a positive sign and good building which may translate into very strong move on a break out of 2150 NDX.. so keep looking..

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