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

To: Chip McVickar who wrote (29061)	9/30/1999 2:43:00 AM
From: IQBAL LATIF	Read Replies (4) \| Respond to of 50167

I have not really used 300 days MA as a support or a resistance but that does not mean that it may be not valid, sometime popularity of a MA provides the reversal or break one is looking for, I therefore stick myself to well known and majority used MA's.. I would think that all said and done we are still sitting on 1280 a couple of points lower thna 1282 support and 2398, so in my opinion the real indexes like DOT and SOX PSE are showing good strength and in face of this strength I woulod htink that these supports or lows of Monday like 1367 should hold. Sometime we see overshooting and in that case some outer supports can come to play but this is not the market fundamentally that will stay too low too long.. I still think that DOT 644 is a good close and AMZN AOL has a good potential to move higher..CSCO seems to languish but it would do well as we pass through this next FOMC hrdle in mean time we can see higher volatality and single day breaks which may not matter much, it all boils down to two closes if important support is taken out even one close below a important support leads to whip saw if you closely look at this trend..