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

To: Bart who wrote (17225)	3/2/1998 12:14:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I'm looking at SOX - its 311, it has bounced off 310. Now 310, if you look at the charts, has had three bounces off 310, on 20th February 98, 24th feb and 2nd March. This 310, which was a major resistance on 10th Feb, 12th Feb and 17th Feb, has now become a major support and I think this support of 310 will hold. TXN is down at 57 which is a very critical level for me because it has been cut by 20 cents in the 98 earnings. On SOX, Teradyne is down by 6 dollars at 41 because of projected earnings cut. I expect SOX's 310 to hold; a close below 310 today will take us to 300 but I would be looking at longing above 314 if it breaks. NASDAQ Composite is doing good, APM numbers are good, export orders are inching up like the prices paid also showing firm status, so, for me, basically, these levels should hold. The present trend should continue and I will only buy puts if 8377 on Dow is taken out - that's my key point on closing basis.