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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Sonki who wrote (27416)	7/7/1999 4:57:00 AM
From: IQBAL LATIF	Respond to of 50167

This indicates clearly that AG organised one of the most spectaculor slavage of a huge sinking company, they unravelled the missing links in a manner which would have taken the bottom out of world finacial markets. The trading positions which were largely on spreads and special situations complex derivatives had all the potentials to rock the global marekts hard, if Fed would not have organised the systematic funding and disciplined liquidation of positions the equity markets could have been hit, beyond a certain point panic can create an actual crisis as asset values keep falling, so in my opinion it is good news for the market and the famous dictum holds ' you see your levels back' it is only the holding time and underlying reserves to carry the position. Lately the spreads between the US treasury and other lower quality bonds have considerably narrowed and LTCM who had major positions in these spreads must have made good money. On our market I am a little concerned about DOT and would like 682 my resistance to be taken out before I dabble in, I see 700 as a target but a very strong resistance too, so for me this sector has all the potential to take a breather after its very recent phenomenol move from 500 area. I am looking that DOT test of 625 support will do a lot of good for the long term strength of this sector. Those who have missed the train need to relax, standing in front of train that is guessing the top is difficult whereas gettting in at the these levels is equally difficult, for me the best trade would be long on the upside if 182 on Yahoo 125 on AOL and 126 on Amzn AND 578 on dot IS TAKEN OUT , I will follow this and SOX very carefully alongwith PSE a break of 492 and PSE support would be beggining of a short term test of 1364-72 area on SPU that is entirely possible some test of that breakout is very normal in these markets and we would like that to happen.