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

To: IQBAL LATIF who wrote (27741)	7/23/1999 10:52:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I would think that NDX and COMP should move above 2315 and 2715 to give a good indication of short term reversal,for today or next week I would think that we would test 1350-60 area on SPU, we may see a rally but it would be negated on Monday we have come so far the marekt has not gone through that fearful correction where bears start dancing this is very much in control and this is not something that would generate a strong bounce it has to be that big one and that means any strength would a occasion to sell. I will be long above 2320 and 608 on DOT and short below 1367 on SPU with a stop at 1376..I will cover my short at 1356 area..I will watch SOX very closely a break through 492 would be positive for the market. RUT should maintain this 450 support and most likely it would. BKX has shown a lot of weakness and I never expected that however C MER has maintained good levels, I am liking MRK LLY PFE and would like to establish long term six months call positions on these stocks .. TXN needs a look to it will split next month and 135 is good area those who missed it should enter above SOX 492..