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

To: Brian Fukuba who wrote (18494)	5/27/1998 4:11:00 PM
From: Chuck Molinary	Respond to of 50167

Brian, Quite the day again today. I'm in and out of AXPH today and then back in (couldn't tempt anybody to take it away for 7 3/4 at the close). I think it'll approach 8 again tomorrow at which point you can expect me to be out. I was glad to hear you like it as a long term hold... Chuck

To: Brian Fukuba who wrote (18494)	5/28/1998 2:55:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Bri-- I think composite has bounced off 100 days MA, I would consider a close above SPM 1102 today a very good sign. We did test 265 but INTC resiliance has been remarkable 74 was a good support, in my opinion I will like SPM to close above 1102 today on closing basis to see this rally probing its 1110 resistance and 1118 resistance. I would not overlook Russia, we need a huge injection of stbility there too like Indonesia but problems and continued sell off can raise unlike Oct SA sell off the specter of ;security' in continental Europe. That is one problem one cannot avoid or overlook.SOX 265 has held nicely so has 100 days MA on composite lets keep this 1752 level in mind if this is breeched we may see steep fall to 1040 on SPM. Take your cue from composite and 1102 on SPM, trade SOX on long side if we have two closes above 1102. The technical break we had ywsterday from a established formation should lead us to 1040 but the kind of rebound we saw to 1097 from lows of 1083 was equally impressive although you must have read my last noight observation that I would have like it to close aboce 1102 on SPM, I did take a chance to unload half of my long puts above 1092 the other half will stay until 1102 is taken out twice and Russian scene becomes a little better. IKe