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I posted the message bang on time when NDX was hitting 2158, I thought I must try to make some money here and shorted the darn thing to cover. I have 1270 long puts remaining from the straddle I placed by selling 1220's twice the number I was going long, I covered the short side and have no problem carrying a total hedge for my exposure below 1270 until third Friday of April. It is nearly a gift as a result of the legging out.
I think that Serbia issues are very important for the market. I don't know how you got the idea that I consider them to be non-events. I will like to maintain an adequate protection on the down side and will not mind selling 2300 on NDX to buy some more SPM puts if it really gets uglier. Purely I see Kosovo as greatest human tragedy in our times; I salute US to stand so strongly in face of a person who is a psychopath like Saddam. I am also shocked and deeply moved that the so-called 'champions of Islam' have not come out in the open and merited US for what I consider an action beyond duty. To save a minority from total 'annihilation and ethnic re-engineering' and staking a confrontation with Greek orthodox and Slav is something I could never have imagined.
For centuries to come this humanitarian action of US will remain a richest of ethnic Albanian's folklore. This one and the other action of George Sorros to provide 300 million $'s to Bosnia's in the middle of the greatest siege is the elan vital of humanity, that we are alive and we will not allow innocent human blood to spill. The actions of NATO are reminder of one basic fact that the chilling holocaust and the sacrifices of millions of innocent Jewish people in Nazi 'concentration camps' shall never go wasted. Humanity have learnt lessons wherever innocent human beings will be killed, international community will not overlook it. Let it be in Sudan, Somalia or Iraq. This is comparable treatment and I salute President Clinton for his firm decision making and Albright for her stand.
I sit here in Pakistan and write this for posterity and dare likes of Gaddhafis, and Laden's Khomieni's, in a hornets den where human life has no meaning and I can be subject of few ounces of 'nickel' I feel it as my moral duty to say what I think is duty of every one who may like to associate with humanity. I hate it when I am not hearing 'Well done America' from Iran, Iraq and most of the Muslim countries? Why are they quiet. Some of these nations who term US as greatest Satan, are now quiet as US makes the great attempt to get what is the right of Kosovon's.
An irony that Saddam sends confidential messages of solidarity to Milosovic -the butcher of Kosovo Muslims. He see eye to ball with Milosovic on all issues, like convenient methods of gassing people. All psychopaths are alike. However, in his contest to continue his 'totalitarian despotic regime' in Iraq, he calls for global solidarity of Muslim's against US. Why he is not showing that solidarity with Kosovon's, why these despots are quite? It is not about Islam or religion it is all about human life, my salute to those who value human life. Milosovic and Islamic leaders who have denied democracy to this whole region are players of the same team, they will like vultures unite to descend on weak humans.
I think Russian's wants to know about the resolve of the NATO. They can send arms violating an arms embargo those shipments can be consequently hit! Endangering Russian lives will lead the stakes higher. These are the stakes US must have well evaluated, it is game of highest diplomacy and strategic brinkmanship. The question is who will wink first, this is chicken game more than likely truth will survive, they will back out. Appeasement has never worked before, it will not work now. Markets can really be hit if Russian shows intransigence...
<<And secondly, on several letters , the gurus of the downside, big
crash, are predicting a very well confirmed top for the market on the first week of
April, the 8th exactly, and a giant selloff after that ? are you agree or disagree with
that?>>
I am not very much liked by these 'Gurus', so I don't have much of considerations of what they write. I call them 'self extreminators of hard earned paper or cyber moeny' look at their posts. Select anyone of them -- and see thru their posts, look at them what they were doing on 30th April 97, when I started Idea, 28th Oct 97 and 8 Oct 98, just two dates will suffice, next add all their posts, their short bear call evaporates but leaves a stinking 'Dinosaurian phart' leaving behind a lot of dead short side invesotrs in the aftermath.. Go with the trend and go with the levels, this is the only way.. Market is not two way ant thing that goes up come down one needs to see the move up .. make money and establish the possiblity of move down.. that is the art.. buy when no one else wants it sell when everyone is buying.. |
