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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (26331)	5/19/1999 3:36:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

May 18 1999 3:36AM EST <<I have a case here for today and I would like to work on it, for me market will dip and waver until announcement is made, if they leave it unchanged I will not be surprised to see some selling even after initial buying, I would still think 1355 is the top of the move.. The rate were not raised but the change of bias was more damaging TO THE MARKET.. my trades worked great long puts of may bought for 7 were taken out at 12 and on rebound the JUNE'S naked short puts placed to offset in case of rally were squared with a loss of a $, since number of short puts were twice the number of long I had to give up 2$ to gain 5 a net of 3, a trade that would have probably worked alright even in a rallying makret.. the idea of market falling even if rates are remained unchanged and hitting 1318 was off by some points.. for me it is nice to see that our prediction of sell off in absence of increase worked perfectly well... that is what market forecating is all about, htink hard evaluate and translate it into a trade and make some money out of it.. May 18 1999 3:36AM EST <<I have a case here for today and I would like to work on it, for me market will dip and waver until announcement is made, if they leave it unchanged I will not be surprised to see some selling even after initial buying, I would still think 1355 is the top of the move....a break of 2555 will lead us higher to upper band of 1255-60 area but we will see some selling at that resistance.. On down side 1318 and 1310 represent trading rebounds whereas 1364 break represents change of mentality. SOX 402 break is a good move and just symbolizes the sentiment we highlighted Tech's will out perform in a strong economy.. I do expect a major move to 1292 if any stance is changed and outside money puts far away provide the best protection.>> <<I do see a possibility that as a strong feeler to the market AG could decide to go for material move of 1/4% so as to nudge the bonds towards 6.25% level, he may see this as the best opportune time to prick the asset bubble.>> << In my scenario building process I do go sometime wildly off the 'tangent' and right now here I have this opinion my trade would be contrary to conventional pundits. >>

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