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

To: IQBAL LATIF who wrote (15035)	11/24/1997 7:11:00 AM
From: IQBAL LATIF	Read Replies (4) \| Respond to of 50167

Morning comments part 2- SPZ- I will initiate a trade to long the futures on test of 953 intraday with a tight stop loss break of 947 or 298 on the SOX whichever happens first, I do not believe in this permanent gloom and will be positively biased at the test of supports, the supports will hold. My opinion will change only if market closes below 948 and SOX takes out 295, I am looking keenly at $ weakness and also seeing some bond being sold my contacts tell me that bond sell off is matter of time as a result of Japanese liquidity crisis, perhaps it will come but I disagree with genral consenses 'TB's' sell off will hurt Japaneses and in my opinion, it is a far short. Bell wethers- I expect to see some pressure however my support of 7800 will hold in case if it does not I buy a lot of 920 Dec puts options, I will maintain extremely nimble posture and move like a lightening- the brokers are in contacts lines are open and trading has already started with morning short of shorting Matip at 99,90 at 8.00 in the morning French time- Welcome to the new world of Technology and global trading. Bi Bi. Levels to watch SPZ a close below 948 not good- DOW a close below 7800 and SOX taking out 295 on bonds a fall below 118,16 is imminent. Bonds and markets will diverge, weakness in bonds initially will speel trouble but the crowd like will soon realise that markets don't fall when every other person is a short, this is a live wire chicken game and Japanese fears are blown well beyond reasonable expectations.