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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (25781)	4/29/1999 12:01:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Market place needs a well defined strategy every day, all trades have to consider various aspects. This is how we thought of various set of levels and our actions.. On the way up a level has to highlighted and on the way a different approach, it is all interwoven, if 705 would be taken out what needed to be done and if 675 is broken what should have been the strategy, on DOT as Highlighted here we worked as planned with little improvisation, on SPM we shorted the index once 1368 was broken we sold May 1420 and got 6 $ and bought 1330 SPm for 16 and change, towards the end I closed out the position I think 1330 were squared at 19 and change although they drifted little lower... IQBAL LATIF on Apr 28 1999 5:23AM EST <<Short the darn thing below PM1292 double close but you can trade to 1292 if 1368 is taken out cover at 1355 if that gives up cover at 1328 if that does not hold 1322 or 1318 or 1302 al these levels will be hit but to say buy puts at these levels is prescription to death. We can trade short below 2504 for a dip to 2300 or below 675 to 625 on DOT but to short because you feel like doing it is foolish, you just don't do that and anyone who professes this technique is intentional 'pain buyer'. On short side SPm is the best thing one can buy one or two puts and have this insurance, I will if 1362 today is taken out or 918 on BKX otherwise let the party run on DOT I have to see a retest of 725 a close above it and than I will decide on individual stocks i will trade EBAY at lows with June's 250's if 705 is taken out on the up. EGRP or AOL 160's if 715 is taken out, I will exit if 725 is tested and we fail.. This is simple I can afford to run the leaders a little more even if DOT fails at 675 before testing 650 or 725 on the up, however if we see a test of 650 before 725 time to go long with 1/3 rd of your risk trading capital.>>

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