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

To: IQBAL LATIF who wrote (39431)	5/3/2001 4:56:23 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Since April 4, when the Nasdaq hit an 29-month intra-day low of 1,620, and when these guys were shorting neck deep and we were establishing continuous positions from 22nd March, the index has gained 37 percent, putting it down just 10 percent for the year to date. Now after a huge move today was another example of 'pre-mature ejaculation of joy' by this evergreen destructive set of minds. They saw SPX down to 1239 and out come the big stick to shove up my arse, but on 27th I had charted the course of the future well, established my outlook clearly and to add insult to their injury picked towards last 20 minutes 6 points as we moved and closed from 1242 to 1248.58. Another way to view the tech market's advance this past month is to consider the gains made by some of the sector's most widely held issues. Microsoft (MSFT), like the Nasdaq itself, is up 37 percent from its lows on April 4, Intel (INTC) is up 42 percent and Cisco Systems (CSCO) has gained 52 percent. Still those who have short since 22nd march are showing as if all this is a painless 'B'. I think that 1218 has every chance of play and I also think that AG may proceed to cut before FOMC if tomorrow unemployment is in excess of 4.7% so that 10 year yield may drop further, I will not be surprised in such a case to see a double cut, one very soon and one near FOMC or in FOMC. The reason is simple that second quarter damage should be limited to as little as possible. In the 19 sessions since the Nasdaq last closed under 1,700, positive settlements have outnumbered negative settlements by 13 sessions to six, and trading volume has picked up sharply. I would like that to save economy our markets need to be saved from vandals at the door, the hedgies were wrong at top to enter at 5000 plus in IIX related Comp and they will be blown out once our model 10 year yield goes at 4.5%, with a minimal 7.55 1461 is doable. This will worry a lot of these crawling destructive mind creatures. With all my best in instable times Ike will be around more often in good times I will post less.