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

To: jim kelley who wrote (29946)	12/7/1999 3:47:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I think if SPZ failure at 1428 is a key point, key points just get established that was my target few months back and after we hit it we were not able to close above it twice and that is important for me to decide if we are breaking out of this into new territory, what I see is that Friday breakout as i suspected on SPZ went and nearly touched my 1455 level but broke inter day below 1445 and now we sit at much lower in two sessions, for me a new breakout in the market needs SPZ clear run from 1428 onwards and this inability is some what disturbing.. I would not mind CSCO IBM HWP ORCL these stocks have not made that NDX touch 3200 so for me I would like these to run and Yhoo type to sell to more reasonable levels even DOT touching 850 would be ideal, probably we will see it but for me my levels are telling me to be careful and that is exactly I am right now doing.. long in CSCO's EMC's out side the monies only .. Yhoo is looking badly over-extended...BKX closing below 800 not good. Index trackers are bidding Yhoo higher they will probably get hit hard..I am raising my level to 280 puts being bid at 51/4$, I will purchase some towards the end today.. a kind of speculative shot on the short side so far it is crazy.. I am looking at this closely but nothing happening I will now try to place it at the high of day..long short is in my opinion good strategy for this market..

To: jim kelley who wrote (29946)	12/8/1999 10:42:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Jim. I had this thought about rotation if we hold at 1408 SPZ or 1427 SPH area for good 1 or two hours and we may see valuation shares jumping higher from 1850 plus area ( proxy of val shares is brkb) than we can look into some stocks like KO and even brkb for a play. I feel that value stocks will now gain momentum after Yhoo huge run and set back, someone who has got in at 350 will like that 400. 313 was not his idea of a run and naturally intelligent as this thread has always been (g)we try to avoid catastrophic ends gg, they may run many others look at PSIX and VRIO they are getting into run..some play on these stocks alongwith AMGN..fwiw