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

To: TWICK who wrote (39665)	5/15/2001 6:24:05 AM
From: IQBAL LATIF	Respond to of 50167

Lot of worries, low volume selling and logic that market would not go anywhere which ever way Fed decides will most likely make volatility higher, i am restricting my activity to my levels and would act within my levels, yesterday we had this false break to 2052 levels but Comp closed above critical 2065-80 area so did SPX at 1248. I would like to be net short below 1213 only and long above that on dips for trading purposes restricted to my day today. On a .5% cut the market will sell and on .25 too it will, it is only the bias going forward that will determine if supports hold. On DOW I think we are looking at 10800 and SPX 1218 plus minus 70 to 5 points on each index.