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

To: thebeach who wrote (17161)	2/26/1998 3:22:00 PM
From: IQBAL LATIF	Respond to of 50167

the beach- Look at this chart and tell me how on earth I can say anything other then what you want to hear-- goes higher ... cbs.marketwatch.com Look at this April coiling 97- not in a very distant past do you remember my posts on whichever side the break is going to come if it breaks 992 it is going to bhumbo break lile a coiled spring-- now let me explain this small little chart from what I call Ike's plain vanilla stuff- do you look at this April 97 area --- we have a coiling action in this chart now go back in march and look at the chart properly you see 1325 area as resistance-- now that resistance was not taken out and we did go back to 1125 on April 15-17 dates now we had some consolidation at lows there but by May 15th we took out March 15th resistance and we were moving up like a bullet June end we were at 1450-- we again had a consolidation around june and then a run to 1550-1650 with consolidation once 1650 was taken out in sept we ran upto 1748 the high in Oct 1997-- Now I will invite you to this right hand side of the chart and look at it the coiling action is extended from Oct-- to Jan 15 this is coiling action unprecedented it was this action I use to look at and cry on 'experts' who could not see the red storm rising-- it was this I use to call the break whichever side it will go-- now in this three months and some change coiling action we have see how many tests of lows one in Oct and other as late as Jan 1475 area-- now two perfect supports at much higher base were being neglected when SOX was breaking out of 243 region-- now look at it carefully you have April 97 coiling and consolidation for much shorter time and see the move after that here we had much more longer consolidation period much more stronger tests of supports with 'world falling apart scenerios' being painted but what happend after as late as 15th Jan one of the finest move up was lost by TA experts as they kept looking for that break which never came as matter of habit--- if you draw a circle with 97 1325 as centre and use March 1450 as radius-- print this on a piece of paper and find out that 1550 was a clear indication-- if now you take 1748 of Oct and 1748 of Feb and see the phase of consolidation in the middle you can well estimate potential of this break macro things remaining stable-- so asking me about ASND is something that I will say just keep an eye on 1680-1700 band and just be long if you have the courage I can look far beyond and I can see where we are heading in a two years time-- like 'irrational exuberance' unkle AG may have to forget about his last few days remarks about overvaluations of equities. So look at this chart when you see gyrations in the market making you feel uneasy-- this is going to go to my target 1130 on SPA and---- on Composite within next 3-4 months but again in between lot of holding of hands and lot of reassurances will be requird if conditions remain as they are I assure you that I will be around to do exactly that. At the moment enjoy your accounts keep looking at the downside-- ASND will move with SOX --and my level will be 355 on down side blow it out now at a break of 313....