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

To: fourptt who wrote (28873)	9/16/1999 12:00:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I think that 1320 is the area to watch on SPZ and if that breaks we go certainly to 1300 or to be more specific 1298-96 band that is the support for SPZ , the uptrend has been broekn and i am looking at SOX DOT 550 and 600 levels I need a confirmation from SPZ 1320 support, if we a re breaking below 600 and 550 on DOT and SOX like NDX 2500 yesterday it will give me early warning to buiy some more downside protection, I would suggest a break of 1320 or say 1316 on inter day basis leads to 1300, excesses are common and more often than not this is a perfect market to sell book profit and get back in cheap for traders who have been right, yesterday 1372 was unbreakable and we saw 2500 before that right now I am long Oct 1300's and will square if SOX breaks 555 or DOT picks up above 609 together it will signal me some selling interest otherwise I stay long puts until tomorrow.. below 1316 I will add more for trading purposes only selling covered calls at yesterday highs and buying puts mantra does work, honestly i had no idea of this break after CPI but for me 2500 NDX was an after thought, I was thinking that if on this good number they can sell below NDX2500 the core than I must be missing something and should get out that saved my neck