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

To: J.T. who wrote (16293)	1/11/1998 1:43:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I am right now looking at key figures of Malayasian Imports and Exports they had a surplus in Nov big increase in Exports- although imports did not suffer much there was also a slight increase in imports- Indonesia and Korea are expected to stabilise as ramifications of Japanese package are felt in ASEA- they are going to present a huge 200 billion plus package to address issues of banking and ailing sectors of the economy. My support levels are 243 to hold- on SOX I will be lookining to get out of my shorts if my test of first fall and rebound holds- I am rather more biased on reversal from here if 243 is taken out my target on down side is 199- I think 243 can only be taken out if INTC breaks thru 69 and that will be a anxious ocassion for tech sector- I will expect INTC to make numbers and come out with good figures to let the market move up from support levels I have always noted that lower support earnings are tricky because a disappointment can really breach thru key suppport levels - I have maintained that any new positions may only be initiated above 280 in the meantime I will go into numbers 200 240 put spread 2 to 1 I will be protected on the down draft if numbers are not met and will leg out of it if we have a rally- it is a risky proposition in a falling market.If markets in ASEA rebound tomorrow I will see SOX above 255- some short covering may also lead to a rally. SPA- I will look at 923 as a good level to hold possibly failure may lead to key point 918 914 and 910 - watch out for close below 910 - on the up I would think by tuesday selling will dry as earning season bring some good news and people realise that world is not falling apart in ASEA. DOW 7575 is critical - I am very careful here because I am not liking forth failure of 992 on SPA I would like some evidence of ASEA strength tomorrow otherwise I will keep my put strategy in place. Bonds also have not shown the kind of weakness I expected and as such we may see some frustrated selling pressure taking out lower supports of the market. I will only initiate long positions if SPA 960 is taken out and if money is rally burning hole in someones pocket I will suggest to enter the market once SOX has taken out 255- better to be late than early - I am confident that earnings season will bring more surprises on upside than downside- in the meantime lets prepare for a reversal only if market shows us the pattern - I will like HSI Jakarta and Nekkei to show some strength tomorrow- 15000 9000 are key levels fro me to be taken out decisively- the general figures of trade in ASEA are not showing so far kind of slow down which DOW has built in - Bond markets and DOW need to move in opposite direction the yield curve need to change - descending yield curve and falling market with kind of numbers we are getting show something is amiss and that something is positive reversal from supports. Just we would like to skin the premiums on my long puts to last level- I will be looking at multiple indicators and will accordingly devise my strategy at the moment I am focussed on ASEA- market ignored strong numbers last night and sold off on premises that Indonesia is going to default however once that is taken out of eqyuation I see selling lopsided however I must admit the fourth failure on top does make the configuration extremely bad and TA pattern for me requires a plus from leaders like INTC- if INTC disappoints we have a great configuration to ride the down side all the way upto--- lets wait and see. chirping will continue.