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To: IQBAL LATIF who wrote (27139)	6/22/1999 9:20:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

The US rate fears will haunt the market if we hold 1355 support we may test lower but will back up even after a test of 1352.... I think Oils will be under pressure and we may see some profit taking but i expect tyhe profit taking to be limited and if we hold this jkey support on SPU plus minus four points we will be back up.. I will like to still concentrate on DOT and IIX to get the clear direction of Comp and NDX, also I will see SOX and PSE to give me a good prewarning of major fall if these indexes break we will see the gains in NDX over last few days waning.. So one of those days where on one hand is the possibility of going higher and getting the old high pierced on Comp and on the otehr some profit taking as old hands position themselves to take advantage od a dip based on fears of rate hikes and stram of economic numbers... The good traders will try to gget out and get in if the range is wide I will determine the width of the range from fluctuations in NDX and COmp.. regards//Ike

To: IQBAL LATIF who wrote (27139)	6/22/1999 11:35:00 AM
From: IQBAL LATIF	Respond to of 50167

FWIW------Computer Associates (NYSE: CA) Market Call™ for June 22, 1999 Contributed by Mark Seleznov, TrendTrader.com. The purpose of this Market Call section is to educate readers in technical analysis patterns and indicators. As with all investment information, you need to research information and consult your financial advisor before initiating any strategies that are contained in Market Call. Also, you must realize that as with all trading strategies, opinions can change quickly depending on market conditions and developments. This column tries to present historical examples, potential set ups, and examples of entry and exit strategies. Channel Breakouts and Breakouts to New Highs Channel Breakouts are a popular method of trading stocks. The principal behind a Channel Breakout is that when a stock trades above the highest price or below the lowest price in the last N (number of periods) number of periods, a new trend may be starting to take place. This channel trading method can be used in any number of periods from minute bars to weekly time frames. The results of using such a method will often result in a stock moving above a defined resistance or support area. When the top of the channel is a new high, the moves can be explosive. Let's look at Computer Associates, CA On June 8, CA hit a 6 month high at 52. CA retraced down to the 46 area were it found good support at that price. A Moving Average trader may have entered the stock on June 16 when the Moving Averages crossed. A Breakout trader will be waiting till now to see if CA breaks this 6 month high at 52. As always, this is a market of stocks, more than a stock market. Although the market was down, CA had a good day on increased volume. Volume at the end of the day was particularly high. I am looking for CA to break the 52 and move higher. I would Buy CA here. I would place a stop at 50. Mark A. Seleznov is a General Securities Principal and Managing Partner of Trend Trader, LLC, a NASD, SIPC broker/dealer firm located in Scottsdale, Arizona. A professional trader for over 25 years, Mark was a Market Maker on the Philadelphia Stock Exchange, a Retail Registered Representative, and futures trader. Mark is an author and recognized expert in equity Day Trading. He conducts seminars in Equity Day Trading and offers his firm traders training and support. If his firm holds any positions in the public companies he writes about, it will be noted at the bottom of his article.

To: IQBAL LATIF who wrote (27139)	6/22/1999 6:36:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I look back at morning posts.... <<I would like today to concentrate on BKX index too, a good indicator of market direction as we move forward.. finance.yahoo.com^BKX&d=3mm The 881 area is a resistance area, we need to break this 50 days MA cap and move forward and close above 902.. lot to do before we have this move up....881 is sitting just below this resistance, so we have this DOT just below 600 and IIX just below 312 and BKX ready to tkae out 888 area to take a climb on to 902 resistance, now if we have all these moves we will get our old high on Comp otherwise below 875 on BKX and 462 on SOX or 298 on IIX we will fail at this attempt and until the next FOMC we may see good opportunities to make money due to higher volatility.. >> We failed at BKX 883 also we failed IIX 313 and DOT 604..as we retreated we saw opportunities on the way down /// <<I think the old high of Comp is going to be the difficult obstacle so would be the 600 on DOT and 312 on IIX, without these we don't go up... SOX is now well in over bought territory and will now retreat to 430 area if we don't go up, however until FOMC meeting we may have a kind of yo yo, the battle is still not over and it I would take my cue from SPU 1355 support ,, IIX 298 and Comp 2575... from IQBAL LATIF on Jun 22 1999 4:33AM EST>> I think that DOT as well as IIX 604 and 313 area were the top of the move today, much before the selling started it was DOT which started softening, I did take advantage of this small signal on the down side... <<Breakouts are difficult to capitalise we had one in SOX but it retreated to 407 from 430 before it leapt up crazy to 472.. so for me it has to be the internets if anymore rally is to come for that I am also watching for early sign of erosions in Yahoo, CMGI, AOL, AMZN.. these stocks have good supports at 148, 99, 112 and 115.. so if we see this slipping thru and some selling in CSCO EMC and IBM I will like to step aside for a while but ofcourse I will be looking very closely at all these indexes and individual stocks... >> WE did see erosions and if you look at Comp and IIX DOT break we do see some very early signals as highlighted in this post.. stepping aside and selling some calls as we broke 598 on DOT proved a good step.. Looking at these indexes one does get that early signal... also we tested 1352 early went up to 1363 on SPU and retreated below 1352.. we need to see a close above 1355.. otherwise we will see 1330 test on SPU before the meeting... 430 on SOX if 462 is out.... we are sititng on DOT 575 we can have this test and we see some buyers if the move to 625 is to materialise...