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

To: Lee who wrote (18373)	5/13/1998 5:00:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Lee-- I think you are right on prices paid component. I see with interest that composite is sitting on 1860 resistance, late rally last night was good. My webs are slightly down although the markets in ASEA have taken a lot of beating. I will keep on adding until I achieve my allocation completely. JPN has withstood a lot of pressure at these levels their were some rumors last night that 105 japanese Banks are in trouble but market which was almost down the whole day did respond well towards the end. The Indonesian crisis looks like turning to very ugly but I think Suharto will step down only after army pressures him to do so. I would give coming two weeks to be critical the army will not able to continue shooting if students keep demonstrating.If situation does not improve in next few weeks I will think that area will even become better on valuation models. The kind of restrictve authrotarian democracy one's witness in Indonesia is not a global issue of the region.The region as a whole is getting affected but I think the worst of fears bring best of opportunities. Bonds below 6% look good if PPI is good we will see bonds testing the resistance at 5.92 soon, I would remain with my analysis that if we have a neutral number tomorrow we will see markets breaking thru this range of last few weeks. FOMC becomes kind of unimportant consequent to what happens in next couple of days. SPM looks good after closing above 1122 a good rally towards the end. AMAT numbers should bring some more stability to SOX, it was nice to see that SOX headed higher after looking very weak but close up 3 points and change. I expect that SOX remains with DDX and NWX the areas which are most ripe for sector rotation and money flows. I am noticing with interest a very minor sign of money flows in INTC ASND CPQ , it is interesting to watch. My target for composite is to break this 1860 tonight and test the old highs within this week. If numbers are week I will opt below 1845 to go for some short trades expecting composite to test and fill this so far 50 days ma gap. With love and regards.. Ike