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

To: IQBAL LATIF who wrote (28396)	8/25/1999 8:17:00 AM
From: Jeff Jordan	Read Replies (1) \| Respond to of 50167

Ike, SP99U 1373 +2.5 I feel better now that we have this Fed thing behind us.....finally..I'm glad my fears didn't materialize. I would have been more bullish if I hadn't had those dang dreams a few weeks ago? I stopped reading my charts closely last week while trying to judge market sentiment....I'm looking for some near term choppiness as people balance their positions.. As it turned out I made a profitable trade in Sep1350p I'm ready to move on now...My core positions now are LU IBM ATHM

To: IQBAL LATIF who wrote (28396)	8/25/1999 9:11:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

<<Wednesday, Aug 25 1999 5:41AM ET Reply # of 28399 Great charts.. Frank why don't you try to draw the // channel, you will see that if SPX old highs are breached on two closing basis we move to 1430 and next 1480 area... Great charts.. however the old high in my opinion is still a stumbling block so would be 1400 resistance shown by you within smaller trend channel..>> Now what is a conceitedness v/s free mind approach to the market, the above post is a classic example. A conceited mind will have all his concentration on the charts to bring the market to his levels, me will not do that never. Look at the above post I am writng what I am seeing although my positions are different. I have these 1330?s 1350?s puts but these are insurance policies they loose four $?s on one contract but I gain 4 times on my long call positions if momentum is on my side, I look at Frank charts however, I don?t impose what I would ideally like the market to do that is to close that 555 gap on DOT so as to test 2300 on NDX or test 1342,,on SPU even 1335 rather, I would see what charts are telling me. Straight on these charts tell me we head higher, that is to 1430 and 1480, those who cannot read this straight have something wrong with their fundamental TA, that is what I called 'superimposition of own positions and emtions on TA.. Here where i find most of the posters showing their amaeurish attitude they get exposed to the hilt, now if someone write nonsense about a theory that goes what is being signalled in these charts I do come out and tell them enough is enough. That is where the fault lies, that is what is called 'bringing the market to your levels',, my strategy is woven around ?take what market gives you?.. Emotions , own positions and self delusions of grandoisity to be the hero who caught the top and got 5000 points will take many a gurus to Prozac.. These guys need a happy pill.. I will give them through my posts..

To: IQBAL LATIF who wrote (28396)	8/26/1999 12:40:00 AM
From: nicewatch	Read Replies (1) \| Respond to of 50167

Hi Ike, About what // channel are you talking? If you can give me dates, that is most helpful. I am sure I have seen it, but don't want to presuppose anything. I have learned that if one looks hard enough, he/she can see anything and everything in the charts. <gggg> from just a quick glance, it seems there is a more clearly defined channel on the dow right now going back a few months... fwiw. In general, I try to keep the charts as simple as possible. Of course, there are always things I leave off, due to neglect, or laziness, or ignorance <g>.... but sometimes less is more on the fork charts as a lot of separate forks often "rhyme", and just end up making a bunch of lines. TTYL Best Regards, Frank p.s. I was just looking over some old posts and noticed talk of softbank... FWIW, here is -what i think is- the daily chart for it quote.yahoo.co.jp