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

To: IQBAL LATIF who wrote (15036)	11/24/1997 10:36:00 AM
From: Tom Trader	Respond to of 50167

>>SPZ- I will initiate a trade to long the futures on test of 953 intraday<< Good morning Iqbal, FYI, based on my trading system, I will be short the Dec futures well before it gets to this level; this is valid only for today since my signal changes each day. Will post if I go short on the options thread

To: IQBAL LATIF who wrote (15036)	11/24/1997 11:02:00 AM
From: Brian Hornby	Read Replies (1) \| Respond to of 50167

Did you go long the futures? I see it hit 954ish - I was thinking of going long there but stood aside. Could be more volatility later today, but your number looks like good short term support.

To: IQBAL LATIF who wrote (15036)	11/24/1997 5:12:00 PM
From: Bart	Read Replies (3) \| Respond to of 50167

Hello Ike!-Hope you are settled in with minimum jet lag!-It looks like I missed some fireworks while I was gone. I hope the thread is back to normal and we can get down to outfoxing those clever MM's and regain the lost ground from last month. I got about a 40% haircut which really through me for a loop. I broke my own rules and got brass balls when I should a been bailing out and then good ol schwab screw ups did not let me participate in the recovery. I am not one of the 10% who can make a living at soes trading but I have a new respect for those who can! It sure was nice to see how many friends were there to encourage me in a very tough time!- I'm in a very transitional time in my life. I am going nuts not working my business 5 days a week., I never thought I would miss it but in less than 2 months I really do! I still want to try a new business and have looked at many options from building spec homes to starting a moving business to opening a daytrading firm.-I want the universal dream of building a business with either family or friends with the freedom to see my kids grow up! -If I can't find the right situation I'll start a new Chiropractic practice somewhere. I'm thinking that ASND, TXN KLIC COMS and a few others are looking cheap now. Not sure if I should attack with options or get more conservative and just play the stock and not on margin!-What do you all think?

To: IQBAL LATIF who wrote (15036)	11/24/1997 11:30:00 PM
From: IQBAL LATIF	Respond to of 50167

Intraday Asean morning update- SPZ- The break to 953 never came rather it tested btw 12,00-2,00 EST 955 around several times since SOX was holding above 300 I overcame a strong urge to go long and saw market testing 959 at around 2,30-2,45 EST within next 15 minutes my levels on SOX 300 started breaking the break of 300 much before then the real break came i.e.7800 and 955 on SPZ, I immediately purchased 940 puts as I witnessed significant seling pressure. On bonds some rising yields but not of any major consequence. Nekkei down 700 futures were predicting last night a drop of 450 so as a result we see S&P on globex trading steady perhaps waiting to see market opening in Europe, the mitigated response of selling in ASEA indicates bad news well built in the market. I would assume Europe to regain some losses and S&P on globex to inch up slightly, it always does when I have some short puts gg. I thnik that SOX will be the best indicator for the market direction in context of recovery I would expect a strong recovery to 300 in matters on next two sessions- a break below 288 is retest of old levels I will assume that now that SPZ has come as low as 950 they may test 942 today - I have no reasons to remain short and expect that 942 will hold if tested stillmy reconfimations will emanate from overall idexes like SOX DJIA and TB. In my opinion this market is very resiliance in face of lot of negative news will Japanese bankruptcies will be harbinger of new world financial turmoil I don't think so. Baring and other major bankruptcies have shown that an ordered closing down is a possiblity within context of OECD turmoil, market by pre-empting and taking necessary precautions is doing a prudent thing and will accordingly benefit once the dust settles. Dell future growth prospects seems to be intact, the numbers beat street expectations although a bit lower then expected whisper number of 70 some projected as high as 73, will Tech suffer in background of strong future prospects for bxes, I doubt it.