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

To: IQBAL LATIF who wrote (18145)	4/25/1998 6:43:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 50167

IQ, per your request: RE: <<<I will like to continue until we have clear ritual tests and conventional reqiurements of a bull leg fulfilled-- one of them being that a great run is followed by a correction which can be as steep at 10 % or a first test of 20 days if that fails test of 50 days MA. >>> wouldn't the Oct '97 suffice for this "1st blip" and the corresponding hysteric run of the last 4 months as the last speculative, giddee-up spectacular? Sure looks like it to me. Could be setting up for one big giant head and shoulders. Oct being the left shoulder, the lasty 4 months being the head, and later in Oct being the right shoulder and the cliff? Speculation... yes, but what are your thoughts. Mkt has been looking ugly to me for some time now. MER is rolling over along w/ the UTIL and all of the big cap leaders like KO and G Japan is looking better and better. You in MBK yet? What's your call on Gold. Looks to me to have made a bottom. Been dead for yrs. Hard assetss could be the coming "place to be" -Lucretius

To: IQBAL LATIF who wrote (18145)	4/26/1998 8:42:00 PM
From: robnhood	Read Replies (1) \| Respond to of 50167

Hi Iq, I remember watching the very phenomena you described between SOX, and SPM unfold as you called them. Lots of lurkers like myself do note these calls and I'm quite sure they are appreciated greatly... cheers, russell

To: IQBAL LATIF who wrote (18145)	4/27/1998 4:12:00 AM
From: IQBAL LATIF	Respond to of 50167

FTSE DAX CAC and other global indexes have retraced to a level we talked about nearly a fortnight back FTSE is at 5864-- 64 points shy of that level 5800, in my opinion CAC which had bounced earlier does provide opportunity last time I talked about ALA and STM both have good product line and are turing around. Europe recovery may add a lot to corporate bottom lines. i would expect good time to start looking at DAX FTSE. Nikkei and HSI both have been a disappointment post stimulus 3 -- it reverted from 16010 resistance should have tsken it out it appears to be heading towards 15200 if we have a second close below 16010 within next two sessions. HSI trading at around 15600 also punched the support at 15800-828 the first time it has done so in last 70 days. It was a key support looks like we are going to witness some renewed pressures of selling in ASEA-- punching these major supports and falling back from major resistances is a popint of concern add to it the uncertainity of TB yields -- you have at your hand a full mix of lot of unanswered questions hanging like a sword over this market. When so many different indicators give you kind of mixed feelings better to be cautious fro next few days. I had written quite some time back that we are entering in phase of macro economic based frenzy-- the economy has been put to back burner even the bond yields were ignored as earning season provided enough strong answers to the critics of the market who missed this phenomenol run. It is now the time to look back at trade imbalances-- capacity utilisation- leading indicators NAPM the cost part will be gaining a lot of importance- unemployment number and most important wage pressures -- we have seen price stability is being imported no signs of inflation on the horizon so the bears who missed the run if need to get in will have to find new excuses-- and we are facing here gurus like Tom Kurlack who shorted TXN at 40-- so to get these entry points at low level --issues will be made out nothing-- moles will be presented as mountains so for me I will like that 2 to 1 protection of your long positions in case 20 days MA's are taken out. The shift of emphasis is the only way to be in the markets-- look back at two distinctive phases of this great move from April 30 th the first anniversary of this thread-- 770 to 980 the first leg and 990 to 1130 the second leg on the sell side you will find similar names and faces calling market expensive at 770 shorting CSCO at 30$ and similar set of characters emerging from ashes to call short at 990-- BKX 690. Imagine to buy puts on breakouts. They still remain in business but markets have exacted the kind of revenge which market inevitably takes from bears. It run past them like a Japanese bullet train now the real fun is the fix the strangle hold sell some lot of out money calls in case we have 1105 taken out and enjoy the ride to 50 days MA. For an ivestor retraced markets are rejuvenated markets. My level of SOX remains 318 break where I will cut my longs- I will like a double close below 318 above 330 I will like to run the positions until 350. NWX SOX DDX continued rally should help composite to show some resistance before taking out 1845 a critical level for me.