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

To: IQBAL LATIF who wrote (18268)	5/5/1998 9:51:00 AM
From: Mike McFarland	Respond to of 50167

<This is not a speculative bubble.> Unless it pops. Too easy for me to post a little glib statement like that, and although I happen to mostly be in cash because of valuations, I've recognized finally that fooling around in put options just isn't the way to make money in this market. Just wish I'd played with some calls on those internet stocks. Anyway, you say Japan is the key--key to what? Increasingly Japan seems to be irrelevant to the US economy, and I wonder if as far as SEA is concerned, China isn't going to be the real key. Back here in the U.S. I am, like you, inclined to believe there will be several dips on which to buy, and then, for whatever reason, most likey a recession, we will finally see an end to this bull market. <The breakdown of growth/unemployment relationship is as big an event as Einstein's theory of relativity.> ??Economics seems to me to be mainly bullshit. Although I am not a very good scientist, I think I have an appreciation for the difference between pure science and goofy psudo-sciences such as economics. I think they are very far apart. Long after human economies crumble and every human theory has been re-written, the universe will still be obeying natural laws. I suspect Einstein had a much more amazing mind than most economists. Enjoyed your post, happy trading.

To: IQBAL LATIF who wrote (18268)	5/5/1998 10:17:00 AM
From: Brian Fukuba	Read Replies (3) \| Respond to of 50167

Economic Calendar: Mitsubishi Idx 0.2%, Leading Indicators 0.2%. Details: briefing.com Weekly Summary: moneynet.com Ideas Home Page: come.to bri Ike, Thanks for your eloquent essay on ASEAN, Japan and the DOW. On another subject, picked up a lot of AMLN several weeks ago @ 3.25. When it got to 4.25, had to sell(a point on a $3 stock!!). Now it's at 6.75 on heavy volume. Thinking of picking up AXPH(http://biz.yahoo.com/p/a/axph.html). Has been increasing last week on above average volume. Any comments Ike, anyone??

To: IQBAL LATIF who wrote (18268)	5/5/1998 10:29:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Market today- my levels are to buy some puts only if COMPOSITE breaks thru 1870- I was watching this action of SPM in my opinion it may trend higher if inable to break this 1122 or 1118-- watch out for composite level of 1870 this will herald break to 1118 on SPM. i am looking at SOX action and it is moving higher my TXN is also strong until you see some big time selling in MSFT INTC and IBM type stocks or my 10 bell weathers the bears will just keep losing money on meaning less trades. Keep an eye on INTC 80 MSFT 87 IBM 115 GE 811/2 if you see cracks -- go for that short trade otherwise chances of being whipsawed are high. I am sure if SOX takes out 321 the trade is long here, I will like to see SPM moving back up to 1130 to probe and cose above 1130 today that will give Techs the green light to move forward. Many gurus think that S&P trailing DOW is a sign of market weakness and last stages of bull I think why don't you spin around and look at it from another angle may be S&P is lagging because Techs are a reluctant game- with 2 trillion $ market cap relating to Techs still in limbo I would think that why not to give benefit of doubt and think that may be if Techs take off we may see S&P flying and leading this market higher. My purpose of these various periodic reports is just to bring like a devil's advocate points which keep cropping in my head, it is not to change opinions I am one of the fiercest bears as I sell calls and buy puts when markets go thru my level but such has been the markets and indicators that one needs to watch out carefully beofre he places a wrong bet. Sell when suports are broken and watch out for that futures cash premium changing to discount if that is too visible the discount of futures to cash will be unsustainable so will be the selling. The pit action requires actual selling of securities to be followed this is the reason I emphasisie on earliest signs of cracks by watching my ten bell weathers.