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To: Chris who wrote (5323)	1/29/1998 3:30:00 AM
From: Chris	Read Replies (1) \| Respond to of 42787

iqbal Subject: "IDEA OF THE DAY"-Trading in&out for profits. \| Previous \| Next \| Respond \| To: IQBAL LATIF (16676 ) From: IQBAL LATIF Thursday, Jan 29 1998 2:51AM EST Reply # of 16704 I think we are in for continuation in strength in SOX - I just looked into SOX break we are going to see SOX testing 297-301 area soon, I see a possibility of 310- this is the first time since last few months that SOX has taken out 50 days MA- TXN INTC MOT MU are giving a good leadership- we need some good break on INTC above 82 level that is one area one feels is loking toppish however I would think that to be taken out- INTC reaking 80 will make SOX 297 area assault a technicality only- it will surely drift back to 280 if INTC fails 82. BKX- At 718 I am looking at Mel WFC as two potential runners- I will be looking at MEL and WFC for a 6-8% run as I wrote yesterday WFC pounced off 294 and closed at 300. SPA above 982 is a good omen but I will like this to maintain its level above 980. This is sixth attempt on the peak since August- I reiterate 938 as a most important support and 992 as a significant resistance I would consider seeing xoc performance last night that may be we close above that if SOX runs continue. Look at ABI also good pattern. BKX 724 level is important if that is taken out I will see 735 area as next resistance. My lower support is 704 on break of this I cut my longs. ASEAN markets coming along fine and healthy should give some confidence today to longs- OSX looks ugly alongwith SNT TDW charts but loooking at RSI we may see bottoming here with 3-4 points. I see DJIA run above 8000 or 992 SPA on shoulders of following stocks KO MRK DIS - KO although fell shy of expectations does contain a very positive out look- Smith Barney also recommends TLAB for 98 and EMC. Loking at configuration of lagging indexes like SOX BKX OSX and others this new attempt on high has lot of undervalued sectors or oversold big stocks if market fears in ASEA are allayed and new overcapacity threats are discounted I see a possible upside break above critical 1000 level- Keep your stops on new positions very tight 968 is a good support to worry about- we have jobless claims today and expect this number to impact the market. SOX should stay above 280 during this attempt up.Watch out for these various sectors and enjoy your long positions. \| Previous \| Next \| Respond \| View SubjectMarksBookmark this Subject Return to Market Trends and Strategies One or more words separated by spaces: Subject Titles Only Full-Text Messages with Links <Picture> Send questions and feedback to webmistress@techstocks.com Terms of Use