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: Getcher who wrote (17517)	3/22/1998 12:22:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Getcher-- some further thoughts on SOX SPM divergence- I will trade long on this post alone-gg Message 3789104 Do that exactly but with a break of 1100 on SPM and SOX should hold above 280-88 region if it takes out 290 I will looking for that trade -- the only problem here is that although SOX may diverge if SPM retraces but in case SPM keeps going on we may see that SOX may take off from these test-- for me tech. are going through a period which is that famous 11th Nov SPX break we never really looked back since SOX has alluded me but I know that I have a right feel I smell that move up but if it breaks 280 I will take that ride down like last time and in this case you may see instead of divergence rather convergence of move down so you need to be careful and plan your strategy based on various inter connected factors- If SOX is above 290 and SPM stays above 1100 we may look for 310 longs and 1130 long- If SOX is below 280 I will be short of SOX and SPM together- If SOX reverses from here and stays above 280 I will be long SOX and buying some pouts 1080 below this is the third time I will be playing this long put game the last time I got out of my long puts were soon after strong economic numbers --remember my mantra strong economy produces strong numbers let me take you to strong capital investments in last two quarters of 97 above 14% it was expected that long term they shall increase productivity but in short term were suppose to be inflationary now we did not get that short term inflation but last 97 quarter capital spending and increase productivity in my very humble opinion not yet fully priced in the market- Getcher I am extremely sorry for always raising new issues but such is my involvement and reading universe that things keep jumping in from nowhere but anyway this has helped me to bury that suicidal tendency of self righteous bearish streak which results into a destructive set of opinionated market levels. Imagine the fun we are right now looking at 8000 at a distant past with my prediction of that level to be 'steal of the century' still ringing fresh in my ears and now looking to enter a short trade at 8800 for a prema bull I could not have dreamt of a better 98. NOK don't forget my 130 target.

To: Getcher who wrote (17517)	3/23/1998 10:32:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

See Getcher we could not have timed our purchase and called for SPM/SOX divergence better then this-- atleast from where we sit it looks a step in right direction. Look once again at the charts see where are 20 and 100 days MA's of SPM and DOW are sitting. I would assume 20 need to be tested and this will happen for sure betwen now and June so a long put in June is far more attractive then April's. In Feb we had two tests of 20 days MA once it touched at other time it came very near and took of -- no market can keep going the way this is right now I will insist for my account June 1080 puts paid 27 and change but slept like a horse -- I have s solid three months insurance and let the market go whereever it wants my profits are solidly locked in -- if it goes higher good for me although I may loose my premiums but nothing in compare to gains from 980 above if it drops I take my puts out at 1065 level-- I get up this morning and find composite to be up and SPM down-- as if we wrote the market script gggg in hindsight may be we are not all that contrary indicators. I am also looking at 50 billion $'s Fed auction and with Oil above 16$ I would assume that we may see yields back up to 5.95% that will pressure the market further--- so look carefully at 1080 June that is a good insurance.