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

To: IQBAL LATIF who wrote (29046)	9/28/1999 9:10:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

A gap on SPZ will most probably be closed as we open today, we are most likely to test the 1288 support, in my opinion I will take my cue from NDX a break of 2400 would lead me to go short the market any time today however I will look at more evidence like SOX 512 and DOT 624 support, in case these supports are giving away I would advice another test of that 1367 is perfectly possible, overall I see that we are on the lower range of the market and in my opinion any selling ot that support 1267 area is just that little long side opportunity. I think that 1300 is a formidable resistance like NDX 2450-55 area and we need to see that until we have two closes above 1302 we are still not out of the woods, so a proper tactic would be to look at PSE 640 that will certainly signal a break on the upside or NDX 2455, on lows I have highlighted what I think are important supports, since yesterday sell off it was nice to see one positive sign that we are testing 1392 with NDX at plus 2400, that is to say that internals on important stocks have improved although it looks we are at the Friday high, this is a nice sign, the selling momentum builds up on key stocks and internets in these markets with pressure becoming less I don't see that unless we have some negative pre- announcement or inflationary economic release we will see some steep selling in the core stocks..