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

To: Jerry Olson who wrote (18043)	4/18/1998 11:22:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

OJ-- I agree with your findings it is a tug of war between laggards of SOX and winners I will recommend that you go down to basic see individual weighting of each stock within the sector and look around all the other pans you find DDX NWX alongwith 65% cap of SOX ready to take off- so overall we may not be loking at new highs here but a move up is imperative. If they could stay down below when prognosis of TXN NOK and even LRCX AMAT was terrible back in Dec I don't see that forward looking statements may not lead us to greener pastures. OJ- I hope you may feel that I am adamant about my positions such is the level of my complex reasoning that sometime even if I want to change I cannot but overall for me I like to make a strategy based on what I think are demands of global and domestic markets. It gives me satisfaction that I try a more comprehensive approach than looking at an individual index I like to see what happens around ups and sector weighting lagging aor leading add them up altogether you get a pretty good picture. Like what I am raising recently is the strange combination of ASEAN European stocks at supports and US indexes at resistances- if we bounce of supports in ASEA are we going to break the resistances-- going by my ultimate indicator the market earnings prospects and possibilities of P/E ratios dropping from 24 to 20 in 1998 I think we do have a room in the broad market. I liked INTC action on Friday as well as SOX staying above 301 my critical level intraday it did touch briefly 298- also I noticed that resistance of 1118 which I had highlighted once breached was compromised and with a blink we were at 1125.