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

To: James Strauss who wrote (34921)	10/30/2000 12:43:04 PM
From: Skywatcher	Read Replies (1) \| Respond to of 50167

support support....wait for the margin thing to kick in... providing the next kick in the teeth. chris

To: James Strauss who wrote (34921)	10/31/2000 1:57:22 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

James.. I am trading this market based on Comp and SPX or SPZ if you add the premium. I would like to see that this huge negative divergence between SPX and COMP to close, that is SPX down by 4.8% ytd and Comp down by 21.5% ytd, this year we have seen this negative divergence many a times and this has closed most of the time. The positive divergence between Comp on 10/3 where Comp hit 5048 plus 24.6% and SPX was at 1395 minus 5.01% finally did close on 4/4 with SPX hitting 1494 and Comp at 4148 both up for the year 1.7% and 1.9%.. Note that SPX hit the low of 1329 (interday 1307) and 1333 2/25 and 10/12 respectively, I consider this as a base of this consolidation, the present negative Comp does not have enough of weight to pull the SPX down, if we hold this 3164 on Comp and maintain the push forward on SPX above 1414 I would like to see 1500 on SPX and 4206 on Comp..the present negative divergence between SPX and Comp has two ways to resolve one that SPX breaks below 1350 and Comp 3164 (the earlier signal to sell on closing basis will come from Comp as 3164 is very close) on two closing basis that starts a new cycle low to 1250 area on SPX, or SPX yesterday close provides momentum towards upside as Comp is benefitted by likes of MSFT NOK and WCOM SCH moves.. this needs that SPX should take out the 1408-1414 area of resistance that will lead to a huge rally in Comp another 19 point move on SPX would not be ignored it will have very positive impact on Comp. As I think that we are most probably making room for that 1414 1500 on SPX and 4206 on Comp the above may play out soon fwiw.. I will be short below 1379 with in interday for protection but would be nimble in playing the short side as I still think that SPX will pull Comp out of this low cycle if not and I see SPX with leading indices like BKX and DJT DJI weakening the break would be very real and as such needs really good protection as such my trigger point is 3164 for initial pretection and 1379 for secondry protection and 1350 break would mean over all negative and we move on to new low cycle.. ofcourse for that key indicators are BKX DJI..