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

To: saulmon who wrote (16097)	1/3/1998 12:35:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Saulmon- off topic Oversold- I like Qntm Rdrt and WDC- I have added EMC ORCL WDC TELLABS and Treadyne to my portfolio as last few additions of 97. If SOX breaks 248 for two consecutive sessions I will exit my positions. I will also wait to initiate to add any positions until 280 is convincingly taken out, I think SOX come back was clearly visible and last night move is very much within the anticipated band, now that wew have moved up 32 points on SOX from lows a nearly 12% move we need to wait and allocate funds only if 280 is taken out- two closes above 280 first step two closes above 275 to confirm this move up. If we get two closes above 280 -301 is the next target and than 320 on down side if we are unable to keep above 275 we will retest 262 suppot which should hold barring a pre-announcement from a major. INTC is keeping a chain around SOX.Integrate your moves using SPA SOX COMPOSITE and bonds that is the only way to do it- even if you are wrong - you will see your levels back don't get whipsawed by fixing your eyes on one dimensional analysis use multiple approach.In a soft market TA looks the ugliest when reversal is due. Is this a reversal or a dead cat bounce -the only way to confirm is to let resistance be taken out- you may enter late but you will be a part of move- entering now is risky because if SOX fails at 280 you will be entering at a wrong time- now wait for next resistance to be taken out.