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Politics : Idea Of The Day

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To: Logain Ablar who wrote (26759)	6/2/1999 8:51:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

Tim .. Look at this COMP with MA's, quote.yahoo.com^IXIC&d=1ym DOW is sitting at 50 days MA quote.yahoo.com^DJI&d=1ym i will watch it carefully. I think since Aug 98 we have pierced this 50 days ma, last time we broke it 200 days MA was tested and taken out albeit the last time it was global deflation and not inflation which removed the floor under the market, I would think falling gold prices, strengthening $ and weak recovery in Europe alongwith higher bond yields are doing Uncle's AG job better than he would handle by rising interest rates, look at the huge gap between 50 days ma and 200 days ma now the last time we broke the 50 days MA it took combo of LTCM and meltdown in GKN's and ASEAN countries to take out 200 days MA, for me we are in a correction mode sitting very nicely on 50 days MA, if we break this we may test 2100 the 200 days ma's but I don't see any problem beyond that. I will like to continueto follow SOX which I think will bounce soon, PSE DOT BKX all are sitting at 520, 550 820 until we break this I will trade interday opportunites, for me 1282-83 is a good support and I think SOX 375 will determine the immeidate future of RMBS ASYT type of stocks.

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