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

To: Tom Trader who wrote (14821)	11/20/1997 3:13:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

TT- I am not bearish , sorry for not being clear so far- I think 890 is a very good support- or 6900 on DOW _ that for me is a bearish level. I don't believe that we are going to see a market at say April 96 level that is 750 on S&P. For me it is imprtant to keep a picture and possiblity on the down side. TT- At one given time an average of 20- 30 contracts on S&P options are always very rarely S&P positions are carried overnight. Like I was short on 12th evening when my level was taken out at 910. Market direction for me is important as I have much more a leeway in 'options' ofcourse 'futures' are with very strict stop losses, like a break of 935 would have made me short until 928- since S&P on Globex and during the day did not break 935 rather 937 turnaround my strategy was as I wrote buy the supports and sell the resistance, that is exactly what I did. TT- I did not buy the protective puts since 47-48 region is in tact, I did cover some naked option puts which I had sold at 941 level if Bond would have weakened I would carry them over night, last night I did not feel comfortable. If you look at the 'yield curve' what do you find Tom- you will see the front end flattenning of the curve- now why should you risk your money for 30 years when you can get 5.70% for 3 years, now the only way this situation can be corrected is that Feds should cut the rate- I just don't see that happening and have been adding to more puts 118 when last night new contract high was made. TT- We are running a huge short in Matif and although under water plan to run it because Karim feels that Matif at 99,66 will not sustain, I think same for bonds, if you treat Bond chart as a commodity you will see 120 within striking distance and no reversal possible before that this is the ultimate for me- one strong number and you see bond backs down to 119 or even 118 some 'money managers' are talking about 3 point loss, however it will not be bad for the market as market is not prized for 6% for that kind of yield if properly prized will see far sharper valuations. Last night rally in Dow was a result of this bond rally realisation- it was this one reason DOW big cyclicals moved ahead and others languished. In a down turn in market this pattern will not hold we will see cyclicals moving down faster then SP. Correction in S&P Tech laden index will be far less critical in my 2 cents worth but anyway this was a hypothesis and we will come to it when situation arises. (Downturn will be associated with real break down of going forward corporate profits) . Differences will ofcourse continue but I understand your position very clearly it is nice to be watched closely- it gives me more reason to write. I will look forward for your response if things keep cool on the thread Nesrin's restrictions of 1 hour only will also be lifted.gggg

To: Tom Trader who wrote (14821)	11/23/1997 5:45:00 PM
From: Getcher	Read Replies (2) \| Respond to of 50167

TT -- I am quite glad to see things on a great track for the Thread once again. There is not an individual who deserves this credit ... the community does as a whole!! Tremendous community. I met Ike in NYC. I have been following the Thread from the beginning; before I signed up for SI! I have also followed you, 2 Kevin's, Judy, Lisa, OJ, Michael, etc. on TSO thread. THis is just an intro for next comments. It took me literally 3-4,000 posts to begin to understand Ike's style. I think meeting him in person cemented the way I think of the style of posting/thinking that he exhibits. There was a post that Kbo put up of our NYC meeting with quotes, and mine related to Ike's style. MOO (My opinion Only) is that Ike is a logician. He has a keen sense of understanding market reactions through market data and the underlying/overriding news ... world news. He can then put that into a future correlation. Yes it is merely a correlation, not a recommendation. Its a sort of "If ... Then ... Else" statement, whereby we can expect certain areas to be tested IF a cretain portion of a statement is true. There are the rare occasions where the markets divergence is such that Ike comes out with a recommendation. I believe that he has at all times reco targets for his own investment purposes, but these are quite sensitive in that they are extremely short-term (minutes) -- thus it is not worth sharing, and to do so might be even dangerous to one who might follow. When he does make a reco, it is normally not short-term, and the terms are described more in exit strategy then dates like Bernie. This is merely one man's insights and should be taken as only that. Ike, If I do have some of my thoughts wrong here, I apologize and would greatfully appreciate your correction to these statements. TT -- hope some of these thoughts might help you with Ike's style of posting. On a side note TT --- I have allways admired the steel determination with which you pursue your Futures strategy ... your strict discipline to your system away from your emotions is something I have tried to emulate, but have often failed miserably!!! My only solace in this failure is that I know I am not alone!!! <gggggg>. Getcher Getcher