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

To: Cynic 2005 who wrote (15345)	12/8/1997 11:50:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Bhumbo is already here- Mohan- Let the markets do the talking, we have had enough of gloom of doom.Everything which goes up does come down but to preach 'gloom' in face of excellent configuration when we were at 900 was strange- You may be right but I assure you before that from here every long will know it coming it is not going to be like a thief in the night- if you care to read Rubins statement amidst this crisis it was few words and the words were 'Fundamentals of US economy remanin firm'. A well thought provoking remark which Treasury officers formatted after great amount of discussions with AG and President- now you have a view opposite to conventional wisdom and this view is like Batra's Bankruptcy a very strongly held too- my opinion is clear let market do the talking avoid standing in front of this roller coaster - fighting the ticker is number 1 mistake any one whio engages in it will see his account dwindling. When S&P was trading at its critical supports S&P Dec 870 put was 26 $, last night it was not even being quoted- I had assumed that based on your 500 points 'drop post' if I had bought these puts a 10 of them I would lose 65000$ that is a very hefty price to pay for being short of this market- may be I will see this level in Jan but I would if numbers suggest buy this very put for Jan at fraction of the cost. I beg to differ that perpetual short is not a strategy which any astute investor should follow. I have been amused by some of your posts on 'me' being a contarary indicator of the market i.e. if I was long then every one should be short BB also referred in one of his posts the same point however for a change it was quite funny that contarary indicator was so true on the ball ggg. Enjoy your shorts -Do you notice NAZ coming back to life and do you also notice 7% divergence btw NAZ and DOW new highs? For me last night 17 point move is a harbinger of shape of things to come.To predict 1050 is ofcourse more difficult then fall of 90 points to 900 but I will choose the former course without any remorse- for me if my levels are violated I gop short other wise to short the market making a triple bottom is not my cup of tea. Thanks for your 'Bhumbo' post.