Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jorj X Mckie who wrote (28767)	9/10/1999 3:31:00 PM
From: IQBAL LATIF	Respond to of 50167

BKX technically is the weakest, it made a new inter day low at 767 yesterday, although high today I have two explanations.. 1- It may be a false trap.. recent example DOT,,, look at DOT came up closed above 601 and than next day was down to 595 and now 630, so it was just to ring out the weak hands who thought that after 601 they have a clear run for DOT. For me financials have no reasons to be here, this 775 support has proven to be quite robust if we go through CPI I think we will see the real rally in BKX.. however I agree with you that it looks terrible on the charts but as you know I have been most of the time making interpretations very much opposite to what charts have been telling people although I have undoubtedly seen P&F guys to be very close to my call spectrum over three years.. 2- BKX is harbinger of shape of things to come, if that is true we will not break through the top of 1392 may be we test 1402 for quick inter day but that SPZ divergence of 40 points from old high with NDX making new high will be a potential problem, now I will invite you not to a very distant pass, buried in these posts on this thread you will find my directions when BKX lagged earlier as core forged ahead and NDX broke through that 1720 pivotal number to 1780- and towards 2000 at that time every one thought that the party is over and BKX lagged quite a bit before it joined the party at the top. For me I have this opinion if my Comp is making new high it has all the capacity to pull BKX up , we may see this rally driven by DOT SOX PSE and later joined by BKX and transportation.. for me Oils are a technical short in next two months this price is not sustainable.....too many capped productions will be selling big time.. anyway as I have repeatedly asserted for me CRB at 186 was nothing to write home about, I would like the global consumers to have some sense of relief, I do see that all this translate to no surprises no LTCM's and no emerging market crisis, the bonds spread will narrow soon, commodities means that US alone is not the oasis of stability, and now that we are global leaders so US corporate profits will benefit from all this new wealth, like Ford we need wealthy consumers..