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

To: Tom Trader who wrote (18276)	5/5/1998 6:17:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Tom--Yes- I am looking at the point 1005, 885 looks pretty distant even after failure of 1130 and intraday low below 1118, I feel composite and SOX are not extending any help for S&P to drift lower. I was thinking that today we should have seen some more selling in composite once 1870 was taken out hence I came up with this post of 1870 break and calling that this break will herald to level of 1118 on SPM that did happen-- but bouncing off 1118 on SPM was clearly good--1118 is an interim support to 1005 if this holds like we saw today and SOX remains bid with TXN INTC even MSFT gaining lost ground I will be careful to cover my shorts above 1122 on SPM and composite 1876 break whichever is the first. I just have a feeling that these Techs want to fly higher. SOX 330 looks like a good possibility. If that happens and we stay above 320 level on SOX I would think that 1005 and 885 looks bit far.