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

To: IQBAL LATIF who wrote (28286)	8/18/1999 9:23:00 PM
From: ynot	Respond to of 50167

thank you, ynot :)

To: IQBAL LATIF who wrote (28286)	8/23/1999 1:05:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

The 1362 wall before 24th Wednesday, Aug 18 1999 5:16PM ET we were bouncing back and forth and we did test that 1318 llevel on the lows but the range was maintained that big huge disaster never really came instead we asre seeing a melt up on the upside even bears are throwing in a making money on the upsdie, not many have the courage to see a put position work after couple of years losses. This market put positions need to be nimble ,don't take these positions to the end, like I blew 1250 out at 1326 break on the up, similarly this market is about quick in and out trading right now we are seeing a huge rally if 1365 is out on closing basis and we have anotehr close up tomorrow we will see the old highs on SU as objective and 1430 the target, what a shame to see 'hardened bears throwing in the towels' that is what worrying me, more often than not these guys would be throughly washed out beofre any move or real breakout occurs from the range for me this is a good example of a rally on anticipation, thoose who were predicting disasters can buy puts 1250's even for Oct in 1/3rd the price they were paying just ten sessions ago. The short side on the market is an imprtant tool not for terrifying otehrs but a tool to enhance profit, this is what this thread has been doing since last few years. We are at it, or around 1362 I still think that this is going to be formidable challenge for this trending market, we may see 1365 tested but I doubt we wil break it, I still think if we see now SOX softening below 508 and DOT bleow 568 we can go for that 1330 long Sept puts... the underlying positions which I had placed are doing fine but I will definitely cut below 1354 and reestablish them at lower levels.. ..<<Wednesday, Aug 18 1999 5:16PM ET Reply # of 28354 SPU 1342 has been a resistance and 1356 the 50 days average the objective today initially the BKX was not helping the futures as it was down and later with profit taking in DOT brought NDX down and comp so SPU sold off to 1336..the range is still within the same parameters.. however they can test the lower limits if 1333 is out.. the market takes path of least resistance it has tried to go up but unless 1333 is out I will still think that we will hit that 62 wall.. before 24th ...