Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: IQBAL LATIF who wrote (14754)	11/19/1997 8:25:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 50167

Hi Iqbal--thanks for your response I am not sure whether you did answer one of my questions which had to do with the significance of the DJIA and SPX or is it SPZ breaking the levels of 6900 and 890. My question is -- if this happened does it mean that you will turn bearish or neutral? As far as the pits trying to take out stops--I know that this happens but I just don't feel that it is as much of a factor as futures traders like to make it to be. I have seen situations where my stops have been hit and then the market turns right back again and other times when my stop has been missed by just one tic. Now in fairness, I must point out that I don't trade a large number of contracts -- I get the impression that you do so. Another excerpt of yours this morning stated: >>If we have again a higher close on bonds tonight I will recommend protective purchase of SP options like 870 of Dec- a higher close associated with SPZ above 948-49 would not require such an action. Keep watching at bonds they need to give up or otherwise the market would<< Now the bonds did close up today and the SPZ did not close above the 948-949 level that you mentioned--it settled just below it. So does this mean that you have bought the protective puts that you mentioned? Do you recommend that others do so? For what it is worth, I agree with you that the continued bifurcation of stocks and bonds is not healthy-- the only difference is that I don't have a specific level, as you do, that would cause me to feel that the situation has reached a critical level. Again Iqbal, I want to emphasize that my questions should not be viewed as anything other than an attempt to understand your trading style. I am trying to follow whether when you state some of these levels--one should follow them strictly or whether it is more in the way of a market commentary. >>therefore I don't think I will ever differ with you again on any point I would like you to differ with me where you disagree--I have no problem with it. It may help me to see things differently. After all--I have already stated that I will not hesitate to differ with you, where appropriate. >>also thanks for teaching me a great art skip names you don't want to read<< Always happy to be of service:) Hope that you have a good stay in Pakistan