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

To: Jerry Olson who wrote (17797)	4/6/1998 2:30:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think OJ let us keep 302 break as a sign of testing 292 and 280 area- I would expect 302 to hold I also think that a break of 302 will take composite below 1845-- I will like to take a cue from composite it should take out 1857 resistance in next two or three sessions alongwith 9000 on DOW-- one needs to keep a close watch on DDX also, it is sitting on 200 Iwould assume that if we break this support we will have 185 on the cards and overall weakness in DD's will translate into semis- sympathetic selling- NWX is looking like ready for a run ASND on 9th will determine the course which according to present pattern looks positive.Overall I just don't see a break below 280 presently moreover all negatives and preannouncements have been made I would expect in view of strong economy numbers beating revised estimates. I agree with you that in case we see a season of reduced expectations we should swim with the tide but a pre-mature jump will be an anti climax for what has been so far a very good run. I am little more aggressive on the long side on techs as my short side is well covered if SOX drifts thru major supports I just don't expect SPM to hold 1100-- this is my scenerio a hedge on divergence. If markets go up we will see techs leading the thrust rather SPM wil lag behind techs- , however if markets fall I have a hedge on SPM--- in terms of size a hedge of SPM protects far bigger exposure and insulate my position in techs.