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To: IQBAL LATIF who wrote (33654)	9/26/2000 5:41:12 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

SOX is the index that will show me the direction of QQQ if it holds 89 support or breaks it, for me a close below 870 will lead to that 750 area and lot more selling. I am going to be looking at this second lcose below 1444 today if it matrialises as 1392 will be inplay, in retracements once certain levels are taken out we do see a retest. IIX looks alright also PSE is at little below the 100 days MA.. we need fro some of these indexes like IIX above 535 or PSE well above the 100 days ma and SPX 1444 to remain solid support for this band to hold otherwise we shall see 1392 and option long put play is viable, I am looking at 121 on IBM a break of that will give an indication of lack of direction for techs in near future. Levels to watch are 870 on SOX and 906 on SOX if we lcose above the higher level we see some buying in sox if we see lower level we may see intensified selling... PSE and IIX if IIX is rallying we will see QQQ holding this 89 support area and rebounding from that point, we need PSE and IIX to absolutely hold, so would be yahoo 104 support, IBM Yhoo are indicative of stocks that may show the direction of the QQQ, we need to watch them a lcose above present levels is absolutely important otherwise a vist to 1390 is all but given .. I will be posting as regualr as possible due to lack of time in my present location and unease of access..