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

To: IQBAL LATIF who wrote (17882)	4/11/1998 9:51:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 50167

Morning IKE It's absolutely gorgeous here on the East Coast today...Happy Holiday to you and all on this thread.... The markets did in fact ignore KLAC's warning, But Ike look at KLAC now!...while the euphoria is eviedent everywhere, i fully believe the entire market is wary of a tech selloff even at these bottom levels... I don't see SOX 243, at most 280 would be my near term bottom, it has strong support there...if it breaks next week because of INTC, we will see 255ish anyway... I think with the exception of the techs, earnings will be stellar this Q...Airlines, Banks/financials, Drugs, etc will beat the street and bouy the markets...any selloff will be shallow swift and self healing IMO...we need to correct to move forward.. Japan is now looking more like a key to our markets, i of course haven't a clue about what the heck is going on there with dollar/yen etc....but I do know our banks/financials instituions are there right now buying up all debt as fast as they can...it's like a fire sale... You know Ike I really enjoy the opinions on the markets stocks etc from all on SI...it gives a bull/bear perspective and eliminates a lot of onesided thinking...at least we can agree to disagree...:>} Have a nice Holiday Weekend as we await the BIG One on Tues...

To: IQBAL LATIF who wrote (17882)	4/14/1998 11:07:00 PM
From: IQBAL LATIF	Respond to of 50167

On April 11 I wrote as INTC beats street lowered expectations- You may be right on INTC but I go in the numbers very much long- come what it may be. I have been wrong on INTC last Oct but recovered with recent run-- I think every one wants to get in INTC at around 65 level I earnestly believe that we will not see that and if we don't see 65 we will not see 243 the last year low on SOX- however bad numbers in my opinion are very much expected by the market it is selling the rumour buying the news saw it in case of KLAC. I acknowledge your sound reasoning but I will still bank on formation of SOX similar to the kind of break I expected on SPX but SPX touched 850 before my big bhumbo finally landed. So may be \i am little ahead of time but I am sure techs are about to rally even if they touch 243. Message 4031012