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

To: Lucretius who wrote (18149)	4/27/1998 3:35:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

With 800 billion $ 's of corporate projected profits at 15 times earnings gives you a total market cap of 12 trillion $'s, which considering present market valuations is not way out of line. Right now I am watching all red in ASEA but still believe that anyone who misses this point which drives the markets and still want to make comparisons to Nikkei at 36000 or 1929 like most of these guys on SI have been pre-occupied with since Oct, they will soon realise that market assets will trade at premium no one practically no one will throw them away until fundamentals change. Non inflationary domestic demand and imported price stability alongwith droppping exports will add to that invisible hand which will smoothen this overheated economy. I see a minor storm rising over the horizon and that of services wages I see a possibility of rising pressures at that front which can be seen in the bond markets right now but this is an alarm which is going to provide opportunities to but for a long term investors 6950 type intraday moves are opportunities-- we may have them between our new trading range of 8250 and 9250 but to expect that sky will fall, I have never believed that and I shall not recommend it has been a momentous ocassion to be a part of one of the best runs in the market and it has been nothing but a pleasure to ride it. On down side my level of 1118 has been violated my recommendation would be to have some OEX or SPM puts until ECI comes out on Thursday.