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

To: Brian Fukuba who wrote (17546)	3/24/1998 8:15:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Bri-off topic On markets some thoughts after rerading your letter how I get time-- this is what motivates me --some very private feelers I thought you may enjoy it. Time and time again market dances to logic and established wisdom, a very minuscule portion of which is spread on our pages like a tale from ' Arabian Night'. We as unknown story tellers who have made this market trekking almost a ritual look at same venue every day, as story makes new twist and turns and gets more complicated as plot thickens we with our very limited tools and minds try to define in most humble way few options which are most obvious--out of unlimited array of choices. In my opinion charts of global markets, currencies and indexes even pork bellies are indicators of human excessive pessimism or optimism on one hand and on the other concrete manifestation of human greed and caution, a good trader goes for the middle ground and avoids straying on the path of gloom and doom. A constructive mind and a positive approach is a pre-requisite in a bull or a bear market no one ever can boast to predict or read the markets perhaps we are in business of improving odds- if one wants to improve odds one needs rational thinking, the self-styled prophecies of 'gloom and doom' is a collective state of mind like ostriches the proponents of these prophecies cry a saga with their heads buried in deep sand perhaps searching for their wildest imaginations and levels which have alluded them so far and profits which never materialised in their accounts. Frame of mind which has difficulty in reaping the upside potential of the market to the full will not be long at 4000 as he may look for 1000 will stubbornly refuse to be long at 6900 on 28th Oct looking for that final day- so even if we touch 50 days moving average these guys with frame of minds cased in 'plaster of Paris' will still be looking at that 4000 or 5000 level. It is nimbleness and tenacity which helps a lurker on footprints of these markets to gain anyone who refuses to adapt will see his bottom line shrinking. Market has its own way to punish 'cased minds' in a bear market or a bull market the 'middle path ' is the only path as in our daily lives extremists views gain very little currency, likewise any views far from conventional wisdom and logic will be thrown out of market like dead from the sea. Markets as living emblems and greatest display of human endurance and innovation do not co-exist with never ending display of particular tendencies on bear or bull side. I have learned by paying dues over period of years that one should never come with pre-conceived ideas, never be cocky and treat the market with respect-- I am bit superstitious about my second love therefore treat this love with kind of special treatment which it deserves.