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

To: vish ramamurthy who wrote (32017)	6/22/2000 8:28:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 50167

Vish i think Ike meant i see no reason for the COMPX "NOT" to close avoe 4000<VBG>... he's the # 1 Bull here i'm in the second spot... downside is probably tomr morning into early afternoon.. then we shall see... OJ

To: vish ramamurthy who wrote (32017)	6/23/2000 10:42:00 AM
From: IQBAL LATIF	Respond to of 50167

I mean I see no reason for Comp not to close above 4000, it is point of inflexion here and this is typical at these levels to have new walls of worries. The 25 days MA timer on IIX is flashing solid signal but the market is not re-acting, at all important resistance it has never been a straight line up. On point of inflexion traders try to get the weaker hands sell positions it may also be compounded by some tax selling pressures too, but I think that underlying strength in the market will take us forward although I should be unhesitent in admitting that oil prices in mid west and FOMC looming meeting has its own repurcussions plus AMZN sell off have added some kind of uncertainity in minds of investors. The oil equation is little distorted as a result of low inventories and I think and agree with the analysis that the present rise has more to do with the speculators who think refiners will soon be in the market to bid the oil higher in my opinion refienrs will wait with 700,000 plus barrels and 150,000 to 250,000 from Mexico the demand supply equation will soon balance, whatever Saudis say as a swing producers with additional capacity they will like oil to stay below 30$ so as to avoid long term fringe producers problems that may bring the oil prices crashing down if oil stays above 30$. On Sept contract I would like 1472 to be respected on closing basis. However I would ideally like a close above 4000 on Comp and IIX above 492..