Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: IQBAL LATIF who wrote (17461)	3/19/1998 1:06:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I think SPM would show some consolidation at 1100--- I think I am looking at a test of 1061 area before my level of 1130 is tested. I will take my cue from SOX if it breaks 290 I will buy some puts expecting SPM to follow we have this very delicate relationship where broader index will need support from techs to keep flying higher if that is not forth coming we would rather test the 20 days moving average- by the way if SOX closes above 301 in next two or three session I would think that SPM will rebound from a test of 1078 area-- I have feeling that SOX is basing at 292 area we need this thing going if SPM has to break thru this 1100 key resistance it is more a psychological barrier a round number- so if you are looking for a trade look at Composite or SOX rather later I think we will get early signal of a move up or down from levels SOX will close today-- if it below 290 I see test of 1078 on cards if above 301 I will go for SPM taking out 1110 by Friday--- the Techs need to give some good support and in my opinion it is the only laggard once March pre-announcements are out I would assume SOX to break thru this range on the upper side but I will look for supports at 288 very carefully--- it did test intraday on Wednesday but came back right up. I am positive about Japan-- A pullback in DOW will like 87 result in that long awaited move up-- some like Sorros had hedged themselves in 87 by longing SP and shorting Nekkei expecting that a fall in SP wil well be compensated by their short positions in Nekkei -- If I remember right opposite happened a fall in DOW resulted in Nekkei rally-- world needs assets and once a market trend will stall the fund managers will look into depressed areas Japan os one area I am long and will add on. Oil prices will benefit Japanese a lot-- 'credible banking' what mistakenly is called a 'credit crunch' is healthy and stays in the background of my firm bullish stance towards Japan-- Selective lending will soon pay huge dividends. It was this very same configuration in CAC 40 when I selected UAP and Banking amongst French stocks I look back and see that every one on France was expecting much worst --- it is always excessive pessimism and excessive optimism that leads to delusions and euphoric bubbles I would assume move of DOW above 8700 -- a 1700 point move from Oct lows a clear indicator of how wrong market analysts can get in predicting directions.