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

To: IQBAL LATIF who wrote (18565)	6/9/1998 11:41:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

The magic continues on 3rd I wrote the first time that correction seems to be bootming out, I marked 1102 and 243 test of SOX as break of resistance and support of SOX nearly three sessions , 1742 and 1082 were predicted as supports from the time when ability of SPM to take out 1130 was suspected and now yesterday like a pre-written script composite 1800 was predicted- 'To: IQBAL LATIF (18551 ) From: IQBAL LATIF Tuesday, Jun 9 1998 3:12AM ET Reply # of 18569 I will trade taking cue from SPM and Composite. I see a good possibility to trade above 1800 on composite where one can expect a run of 40 points to 1837-40 area where composite will face the real resistance. SPM positions can be easily traded if composite stays above 1865 level a weakening of composite will bring SPM to test 1100 support once again. If 1800 is taken out on composite we may see 1840 and we will also see some strength in tech and semis ewhere 280 poses a big resistance. I will be long SOX above 262 to 280 level but I will keep an eye on composite if I see 1873 taken out I will close out my SOX positions.' Now I will look for that run upto 1840 if I have a double close above 1800. I see a lot of undercurrents and as I wrote on 3rd my configurations are assembling together predicting a good run ahead, SOX moved up as I thopught but I will wait for my new positions above 262 and above 1800 second close. ASND moving along very well, BKX was weak but I maintain my forward lking bias. LSCC one of the bad ones in my holdings in my opinion has reached a bottom, it still looks vulnerable but I would keep this on my list to purchase if 35 is maintained. I will like to highlight CAT which I read today is shwing some promise. I will also like IBM 120 calls for my account over and above my core holdings only if 1800 santity is maintained. I will like you all to look for support of 255 on SOX and 1788, if these supports are taken out we may see test of 1765 and 250 on SOX and 1110 on SPM.