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

To: James C. Mc Gowan who wrote (34675)	10/13/2000 7:00:22 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

ME crisis.. for me the market is over-reacting. Treacherous ME politics is a history of lost opportunities for permanent peace. In my opinion all this will not lead to any permanent breakdown in the process initiated. The market overreacted yesterday on basis of few targetted firing, however that is for me not a good reason for oil embargo even Republican gaurds mving towards Jordanian border is a gimmickery. The guys who have no idea of the geography of ME are the ones who make lot of analysis on the media, I think the Palestinians would have to cool down the extra ordinary emotive violence since Sharon visit to the Aqsa. The hype we get on global media results into heightened violence, stone throwing and firing multiplies as global medias makes news out of non-events. This is not a clash of civilisations neither it should be painted as one. It does not have the potential of an oil embargo but our vioce is small, the potential benefits of heightened crisis calls far exceed the pitfalls of preaching sanity. The market is a victim of this phenomenon. I am looking at this close of 1329 a level we highlighted few days back as potential low point, with ritualisitic October falls and today Friday the 13th the market looks like facing a new psychological barrier..I hope that this level holds otherwise 1250 can be printed.. that is absolutely a new level of selling.. but I would suggest that long positions may be initiated on steep falls..