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

To: ynot who wrote (28527)	9/2/1999 11:16:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

My approach is very simple, on days like today we see market down big way I come out and note SOX DOT BKX PSE and make my own judjement that form here we will see SPU moving up if SOX DOT does not break so far I am on the dot and I keep rasing the stop as market moves higher, at limit down unlike others I was not shouting that this is going to hell, market only goes to hell if some concrete negative comes on rumors it whipsaws new hands, today was classic example on days like this I try to be on my desk and try to do oposite to what evey one else is doing.. look at my previos post when I writng it SPU was at 1307 but for me it was testing the old low of 1308 as BKX was sititng at 775 the old low and with SOX and DOT not moving I made my decision to go for a opposite trade... on QCOM and RMBS I would think positioning out of moneys was quite good inlast few minutes.. lets see if it holds my stops are now raised to DOT 555 and SOX 521 or NDX 2370, on tow of any three I am out of my long.. Fluidity of the marekt demands that one should not have a fixed trade one needs fluidity and that is what I work on every day I look at the market and make my decisions as for the overall direction these movements are just signs of market finding its level at a high level and I have sen it many times before like 900-990 was similar we will have these back and forth and some dips but as far as economy remains robust the earnings will pick this market from lower supports.. On daily objectives I try to post my views so as to look back every day and apprecaite if I was wrong or right..