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

To: IQBAL LATIF who wrote (17807)	4/6/1998 8:55:00 AM
From: Jerry Olson	Respond to of 50167

Hiya IKE Your senario seems in tact to me...Makes sense<g>..I'm being a little more aggressive on in semi & semi equips, i do not own any techs, wish I had MSFT..:>}... But Ike I am so long good stuff, and still have a lot of nice stocks on my radar screen, that i'm very euphoric at the moment.. Bonds are a good key, and your 5.50 number is a terrific number to me...Ike if we go there up up & away this market will go... I looked at the SOX index on my P&F charting system..here's my take!!! The SOX hit an all time high of 405 rolled over and sold off down to 280(this is in 97), then rallied to 330 the new top, sold off again down to good support at 280...Actually traded sideways to down, and then sold off all the way to the bottom of 245....late in 97.... It actually hit that bottom one more time, before the market rallied up hard in 98...What's telling to me is, that the SOX rallied straight up to resistance of 330 right on the button...sold off to 285 just recently reversed up to 310ish and now i feel it will test 280 support again near term.... Ike if it breaks 280 it will hit 250-255 IMO...this is a real possibility for me based on what I feel the sector's earnings will be this Q...When you look at all the stocks in this index, yes they have warned, but Ike the "Real" numbers and future guidence "COULD" signal trouble in any correction for this sector & this Index...MOT tonight will be the first to announce... Hey that's the way I read it...I might take a position this week in May puts...i will see, but will post what I do when i do it... Have a great day in the markets...Jerry