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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (26289)	5/21/1999 1:35:00 AM
From: J.T.	Read Replies (2) of 50167

Ike, I believe NOW it is imperitive to be on HIGH ALERT status as BKX and DOT are again providing immediate warning signal to entire markets and resting at lower band of supports. I believe once we crack through 597 DOT we will reach 550 like a magnet and airpatch down to test 500-510 lower support . BKX 1 more close below 880 and 840 and 800 next stop. These two indices will have even more damaging weight on the heavies now as SPU is having trouble taking out 1370 and now lower highs 1355. DOW resistance at 10930 and weary support at 10830-10850. A close below 10830 and we immediately test 10330 within few trading days. In my opinion, RISK/REWARD IS 3/1, 21% DOWNSIDE RISK TO 7% UPSIDE REWARD across all indices. If I am wrong, and we go on to set new highs one last time, ultimate top is 11,900 DOW and 1460 SPU. The risk is clearly on the downside. I am amazed at the complacency of this thread as you have floated your trial balloon about the dangers the market faces between now and the next two months. Looking forward to your updated supports and targets. Best. J.T.

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