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

To: jtech who wrote (33109)	9/15/2000 5:55:58 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I still stand by what I said.. <<Friday, Jun 23, 2000 10:42 AM ET Reply # of 33111 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..>> <<Iqbal,you didnt hurt my feelings I was responding to post 32022 where you called the oil equation distorted and the fall was success for COMP and IIx. I do find it hard to believe that you would post 2 negative articles on oil just because you thought it was nice reading.>> It is just a question of your trust, I post articles on this thread based on what I call education for my own self that is the first criterion, the other being more selfish education for my kids who read this thread very often, many of my posts are more initiated on analysis of phenomenons, like the gambling part of the market, or the recent one on why P/C ratio is no more important or VIX has lost some significance in short term within this four days sell off of NDx and cOMP I was wrong on my analysis but in long term I think I will benefit from the points I have raised. I had in all honesty under oath gg told you that my oil articles was just to highlight what the oil thinkers are talking about, you refused than to trust me, based on which I wrote you to throw me in the dust bin of history and move on, you did'nt and happily continued to read me, that is my success, I have some thing to offer pleases me, that what I thrive for a germ of thought and a beginning point for greater ideas. Some people read what I say and that should only come if I have something new to offer, these guys can be limited but expression of few is a potent force of change. Please be advised once again, that I don't trade oil but I am instrumental in advising in private some people in making policies that may help the OPEC and Arab World not to once again succeed in alienating public opinions..