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

To: Al Serrao who wrote (12982)	10/28/1997 12:15:00 PM
From: IQBAL LATIF	Respond to of 50167

This is what I think wil happen- Market will close higher and move upto 7500-7600 area within three sessions or even less- this is the overhead resistance and 7200 the support- we will see a lot of infighting btw these two levels but SOX recovery I think will be more stable and therefore I will be looking to reduce my financial exposure and increase my techs which I am very low on- I will gradually go up- at 910- I will sell calls 960 and buy puts 870- I don't think INTC can see 68 back and lot of hands who got out are willling to come bacxk in- if market would have opened higher and not dropped that would not show me sentiment- but the market has reacted and bounce was not a dead cat bounce- people who are out will now have to pay some price to get in- I am loooking at 87 charts- let me clear this that we are not in a bear market- will the patterns follow I doubt it very much- two up days and two down days- I don't think so.The fundamentals are in tact and some of these do offer good values= look at Tims stocks highlighted yesyterday good values. This is going to be a great market as we see some serious rebound al around.