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

To: AlienTech who wrote (28058)	8/10/1999 3:08:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

AT//... Look at this S&P chart and notice this concentration of tests at 1290 area.. if we break this we can on inter day basis our next objective would be 1250 and next 1230 that is it where the selling will dry off, over top of my head as you know S&P and NDX 100 are not co-related, like S&P moved from 880 base to hit 1330 area at its peak whereas NDX from its lows of 1000 moved to 2480 area, on the way down we need to establish and work with this co-relation.. so as to keep better protection...otherwise you may see erosion in your NDX sensitive stock and S&P may not protect you at all. Every S&P points roughly will co-relate to 3-3.5 points on Composite.. this is my approximation only.. decisionpoint.com Now NASDAQ 100 major resistance was 2150 on the way up look at number of failed attempts..that is now a very important support, it was a resistance and we did test it last week inter day.. if we break 2150 we have next test of 1980... however this is clear that all these tests need a double day validation..if we are looking to test 1250 from here that would be approximately 150 NDX points and will relate to 2050 and next is 1230 on S&P that would be nearly 1980.. I would like to relate PSE and SOX to these indexes also..I will like to trade an exotic instrument that is QQQ and SPU options if this 1290 break occurs, my strategy would be play the difference of momentum. decisionpoint.com COMP 2500 is a support and has been a resistance.. decisionpoint.com, we break these supports on two closing basis our next objective would be 2400 and 2280... but a break on two closing basis of these levels is a must.. decisionpoint.com DOT sits at very sensitive 480 support if we take this out we try to make a new low at 450.. however these are oversold levels and my strategy is to play it only with long puts and cover them on first sign of basing.. I never short these dangerous internet stocks but will try to take advantage with some NDX puts, if DOT breaks NDX would suffer...but again due to strength in semis the blow will be mitigated..