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

To: Nemer who wrote (17122)	2/23/1998 5:11:00 PM
From: Beachside Bill	Read Replies (1) \| Respond to of 50167

Nemer, Don't worry, I'm Texan, and love my "God Bless Texas" country too. It just seemed appropriate lyrics for the day. Bulls had it from the beginning after the head fake double witching Friday. I loaded up hard on the techs Fri. and needed a confirmation. Led had the best lyrics. Next time it will be the Greatful Dead. Bless you and yours No plethora, just a cornacopia (sp) of us.

To: Nemer who wrote (17122)	2/23/1998 5:18:00 PM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

What next? Party or caution- if caution why! Uncle- Welcome back to SI after a good vacation- my song today is - Composite 1751 -took out my month old target of 1748 like a 'knife through the butter '- DOW was down but composite higher this was expected the SOX DJIA divergence. SPA above 1040 nothing in the number but a psychological 1040-1070 range I mentioned it in my yesterdays post. If you ask me looking into my crystal glass assuming 320 double close and 1748 broken comprehensively what levels I correlate to SPA and DJIA-I will think 1070 and 8615. But SOX can be much higher in percentage terms so will be Russell and composite. Please don't use margin and credit cards to trade on these- you could have used that at 243 now is `traders den game' join us if you want some real action. SOX- 320 no it touched broke and quietly retreated, if our levels start falling so easy I will think twice on efficacy of my levels it did not break 320 retreated to 319.7 but nice to see INTC 941/8 and TXN still 593/4- it breaks 60 and we get our 320 and then I need my double close to have this trend going to 355- what Investor 2 has asked about this fourth leg- I am particular about my levels and entry points on new legs. In my opinion this leg up has a potential of 380 with my target of 355-- this has a potential of March - April run but the move as I have explained several times like you saw today will not be followed by DOW- this is sector divergence. Now on composite I am not going to start the big party until if we don't have a second close above 1748- two closes a must and all of you run to 'Gems thread' - to find some good small caps- I am seeing Russell lagging by 10 points to catch up with 466 to break the old hi- so if we have new highs every where on Russell- DJIA -Composite -BKX so which is the only sector lagging- where will the money go---- go and look around if this close comes in tomorrow we are going to break 466 soon and the laggards will run in a matter of few weeks- Oils war or no war leave them- look at others- NOKIA what run! A close below 1748-- I will go short term defensive depending on overall configuration- this I call a 'stalling of momentum 'very tricky and very dangerous.. I have seen it many a times in last two decades and I will be looking and watching at it carefully- I know they the `locals' will try to rattle it however comes what it may be I would like this 1748 to be maintained tomorrow otherwise it looks to me an emerging and I just don't want spanner in the works at this stage... If we don't close above 1748-- do you know what does that mean-- can someone tell me where possibly we can visit on composite? I hope that most of us atleast on this thread has maintained long core positions but a close below 1748 tomorrow will need a special session-- hopefully we will go through the hurdle but as I always say it is the reversal and fall most difficult to identify and this is the key to highlight today- still a lot to read and learn in my humble opinion. Thanks for lending me your precious time-- good bi and off to bed early like a nice boy-- early to be early to rise on weekdays...