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

To: steve susko who wrote (17822)	4/7/1998 11:41:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Steve-- I expect June contract to touch its 20 days MA although we have the contract trding shade higher than what it closed last night but I think within a perfect uptrend I would like to see filling of gaps even as low as 50 days will be within a healthy retracement pattern. Markets back and fill and so far it is within my strategy although I was not very happy with MOT next quarter forecast however SPM puts are working fine and strategy seems to hold well. I see a very strong move in Nekkei today a close above 16200 it seems is on the cards and 170 call will be stone throw from doubling but I shall let it run like I am patiently letting my puts on SPM run as I have always said if market tanks we have an hedge if SOX runs on its own I expect SPM to lag so as to fill the gap. SPM puts happen to be expensive but give you a great cover for a long run. I would expct SOX to hold this 288 previous low test and move up but a close below it will see us at 260 within four sessions-- I would expect that finally market is going to realise that in context of overall indexes SOX has the most of the potential and least of interest.