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

To: IQBAL LATIF who wrote (29353)	10/18/1999 8:30:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 50167

Morning IKe good thoughts as per usual...heck i've been saying for a year now OIL was TOO low and so was Commodity prices..third world countries were suffering imeasurably... we can live with $20-25 OIL ,and higher commodity prices without worrying about serious inflation... it's now my belief..AG has become too immersed in the "Markets" and really has no business even mentioning this free wheeling, free thinking source of wealth building/trading arena...this is supply and demand, buyers sellers...we don't need or want anyone to INFLUENCE these free markets... i've looked at the indexs..the DJIA has good support at 9700/9800, then 9300/9400, and serious bottom support at 9100...we were at 9100, gee a long time ago...i do not see a 20% correction as possible...15% would take us to about 9600 or so..a mere 400 points down from here... on the SPX...1220 hard support...it would take another rate hike to possibly break that number...the problem is now creeping into world markets, about rates being hiked there as well... while so much negativity NOW exists everywhere...we will see that end soon, and GOOD news will be eveywhere again... happens all the time... my regards...OJ...

To: IQBAL LATIF who wrote (29353)	10/19/1999 8:10:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I am looking at 1242 as a suport today and 492 on SOX as key element if we hit these and we rebound plus minu four points from these levels we can see that 1300 is achieveable on SPZ if 1272 is taken out as we rebound. I am today looking at BKX 712 support and NDX 2345-35 area, a break of these areas will decisively lead to much lower, however the key would be SOX BKX and DOT for me the levels to watch are DOT 650, SOX 492 even 483 and BKX 718, if these levels hold this first anniversary with all its ugly forecasts may pass quietly if they do not it will be a quite a day. Below break of these levesl one can go long SPZ put options for 1200's expecting a rebound at 1228 area, minimum of two of them give you that indication of a break otherwise I will wait to see if 1272 is out to play on the long side...