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

To: IQBAL LATIF who wrote (31536)	5/24/2000 6:00:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

SP00M 1382 and rebound now and take out 1408.. a tall order but doable.. doable it was since I wrote that, nice to see a good little rebound.. <<that best way is to buy some out of the money calls as far out as Oct to Jan on some leading stocks like CSCO MSFT INTC even SDLI LSI and others as Tim Lamb has highlighted.. but if we hold SP00M 1382 and rebound now and take out 1408.. a tall order but doable.. One think I have learnt in life, key levels and reading of market bottoms and tops on supports and resistance's needs if not anything else intellectual honesty and purist approach on your long standing core interpretations, today was one calssic example, much as I was worried about impending break I decided that shorts can only be playable after two closes below 1382, the level that I have been highlighting as key level, the support hled on very very good, the bounce to 1400 near area was good, from down of 100 on NDX to closing above 156 was a key thing to note, on a daily basis that is kind of stuff I want to backtest myself, not to waver in face of gloom and get this market up moving on supports I thought should hold.. <<The way it looks is what we have been saying when Comp was at 5000 is now recognised by the market and hence the carnage, ''rising interest rates will hurt discounted models much worst than traditional stocks'', however the market psychology is bizzare and convulated at best when interest rates were being raised between 28th feb to 20th Mar 2000 market was beating BKX and DOW to 630 and 9500 levels, I think that layers of fat on Comp individual issues have been taken off, it was the time in March to get into bkx and DOW and may be I am little way out by few weeks but I am sure that this trend is unmaintainable, but it is now momentum selling and I think that best way is to buy some out of the money calls as far out as Oct to Jan on some leading stocks like CSCO MSFT INTC even SDLI LSI and others as Tim Lamb has highlighted.. The way it looks is what we have been saying when Comp was at 5000 is now recognised by the market and hence the carnage, ''rising interest rates will hurt discounted models much worst than traditional stocks'', however the market psychology is bizzare and convulated at best when interest rates were being raised between 28th feb to 20th Mar 2000 market was beating BKX and DOW to 630 and 9500 levels, I think that layers of fat on Comp individual issues have been taken off, it was the time in March to get into bkx and DOW and may be I am little way out by few weeks but I am sure that this trend is unmaintainable, but it is now momentum selling and I think that best way is to buy some out of the money calls as far out as Oct to Jan on some leading stocks like CSCO MSFT INTC even SDLI LSI and others as Tim Lamb has highlighted.. but if we hold SP00M 1382 and rebound now and take out 1408.. a tall order but doable..