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

To: IQBAL LATIF who wrote (31430)	5/12/2000 9:35:00 AM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

On Comp we will see a run to 3759 with a resistance at 3700, if we break this we will be happily progressing to 4224, between May and June we will consolidate from 3759 to 4224 with a support at 3700 and will setting up for a nice summer rally. The index to watch will be IIX 498 point we take it out we will not stop before 564, this is going to be all two days close criterion for someone who wants to sure for more aggressive I would like a trade here to get the taste of fall and huge win if we fail or break through.. SPM 1384 was a support, day before yesterday when I called for it when market was still at 1392 it looked hugely suspect and it was because retail and PPI were on our heads however, in hindsight that looked tobe a nice bottom. I think it was only because of fundamental arguments that we made this case otherwise on TA alone we could not establish that as a point of entry, still FOMC looms large but I don't think that market considers .5% as done deal, if slow down is apparent and core inflation remains stable like the evidence is clearly showing, we may see that market may challenge conventional wisdom and dare Fed, by running through major resistance at 50 days MA.. Ideally I would like an opening where we come and close the gap and move up..