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

To: IQBAL LATIF who wrote (39014)	4/16/2001 1:31:06 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 50167

both the NQ's and ES's broke a triangle to the upside here.. buyitbuyitsellitsellit.com i still love EBAY--MERQ--IDPH--IBM acting better today ahead of eps this week..

To: IQBAL LATIF who wrote (39014)	4/16/2001 8:30:10 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

1176-1167<<a long trade above 1183.6 to 1188.9-1192 and short between 1176-1167>>Apr 16, 2001 12:02 PM A day trade can be equally achieved with desired objectives with define parameters. We broke that 1178 test 1167 plus few points bounced back up to close at 1179, now which ever way one can look at it the trade was to short the futures at 1176 and cover them at 1167 area, that is all what the whole session was all about today, rest everything was lot of noise and typical whipsaw that is a part of 'so called day trading disasters.' That is one reason that most of this noise is buried under its own weight of whipsaw. Those who cut out un-neccesary noise form actual happenings of the market reap the rewards. Market even in a day trade session is not about 'dumping and hyping' . This thread has lived so long for one reason that I have always faced these kind of emotive trading with daily levels, like rock they come out true. Long standing market tools that have history of 'test of times and volatility' is the broadest index SPX or the June contract. That dictates the daily trends and associated whipsaws. Today was one such day a lot of noise with futures giving the range traders a nice earnings. Once we have achieved the first inter day objective on what was suppose to be a very volatile day, even after CSCO second warning ,, I would still stick to my second call that was today <<If we are able to hold this 1178 and 1167 area, we will most probably go and check this 1192 today or tomorrow,(P.S.ONLY) on break of 538 on SOX we can see retest of 500.>> I hope that like the noise today we see that all this extra pessimism may fall flat, I would like to see the second half of this few levels today to come true, and for tomorrow I would maintain my 1178 break to 1165.3 area as the traders range we break 1161 we will hit 1152.. CSCO pre-announcements of huge cuts and charge have really not impacted futures for one reason that CSCO market cap or INTC are so much whipped that not much is taken out of the futures, that in itself is some kind of expression of some bottoming process.fwiw I will continue to play this market aggressively with my levels.

To: IQBAL LATIF who wrote (39014)	4/17/2001 10:48:11 AM
From: The IB Dude	Read Replies (1) \| Respond to of 50167

'much ado about nothing' you summed it up nice. Great gutsy call dad. My congratulations. To be honest with you dad, I thought you had it this time. I was so happy for you to see the market going into positive territory. <<At key points like 1080-90 and 1180 areas, too much noise is much ado about nothing, in these 'ego wars' of analysts of major houses we don' want to be caught. I think 1182 is a area of breakout and we will see these kind reversals and strong resistanceat break out, those who were calling the 1080-90 or SOX 450 area as a breakdown to 300 are naturally sour, I think any one who disregards the SPM at these level or SPX and try to see the market from a myopic seperate single news analysis may have had hard times. If we are able to hold this 1178 and 1167 area, we will most probably go and check this 1192 today or tomorrow, on break of 538 on SOX we can see retest of 500.>>