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

To: thebeach who wrote (27669)	7/20/1999 8:02:00 AM
From: IQBAL LATIF	Read Replies (5) \| Respond to of 50167

I like to reiterate that market is not a one way street, and if it consolidates a little it is good for long term, I would ideally like market to go and test 1392 area, my target of 1430 has been achieved and market does not have much of a upside as far as very short term targets are concerned, we may se max of 1455 but a retreat is very possbile, MSFT has been warning every quarter and blowing the numbers but look at very short term trading we see it lower in after market close trading, and ideally if we go back and test the 90-93 area that will not mean anything but just a retracement within a bull trend, IBM, MSFT and most of the other earnings have given market good surprises but market has reacted kind of lukewarm so far ,look at C earnings although I am sure that BKX will take off and money may rotate but Techs would certainly come under pressure if we are unable to rally on good news, in short term it would indicate that market is acting on old dictum but the rumour sell the news... Any market or analyst who cannot identify a good 40 point drop in SPU will fail when the big one will come, we are students of market dynamics and as such i would as trader take opportunity when it makes itself available.. right now I sense that market offers me more attractive reutrns if I cautious unless my levels like 1455 are not taken out i will be traidng cautiously that what seperates me from pertpetual bulls and bears.. Think beyond Friday when 90% big eanrings are out market will have nothing but future expectations, more often than not I would like to see higher volitality as traders tryt to take the market to values where next quarter earnings may have some relevance..