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

To: penderjus who wrote (33402)	9/22/2000 4:45:21 AM
From: IQBAL LATIF	Respond to of 50167

What turbulent times? Are we facing a LTCM like default? Are we looking at fall of Russain nation or disintegration and eventual default are we seeing melting up of all Asean currencies, even when all those circumstances were together we could not rally the gold. INTC warning even MSFT cut to half is very much part of the bull cycle. The world is at peace, the economies are growing and I don't see a reason to pronounce the 'death of the market', I don't have qualifications for that first and second I firmly believe that all this extra-ordinary panic is not required, we have seen 600 points moves in a day and people tend to forget that all selling opportunites are viewed as basement entry opportunities, for me instead of dabbling into gold or shorting $ or buy oil I will buy some put options if I see this carnage continue, markets are smarter than persons like me, we kept waiting to see that break of 1435 it will open much lower but I will see my level to enter my protection, for me cross hedge is worst protection I will rather be long Euro than short $.. I will watch for IIX 505 and PSE and hope that this support will be maintained and CMGI will do well, I will buy some ATML TXN at 850 area on SOX and hopefully initiate some long leaps like 2002 on INTC if I see 49$ on the screen, I will run a cross run of the sectors at that point as to see whats happening, this will be another day and from 750 on SPX to know we have see several of them, I will just take stock of situation, cut your margin and trade long puts only the damage is contained. From the origin of this thread to now we have maintained a level head and will do so today, let market show us the direction, on break of 1350 on two closing basis I will sell everything because that will indicate the onset of new kind of level that would be from 1350 to 1190, for me to trade that band would be a different strategy right now I am focussed on the higher band og 1350 to 1528.. and will try to scalp the lower limits of this band with best of my ability..