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

To: steve susko who wrote (18631)	6/18/1998 2:11:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Market can advance without SOX if PSE advances( a bit more broader index). I am deemphasising SOX a bit on low levels, it has been sold so badly that at these low levels the impact on broader market is negligible.Pacific Tech Index-- if you need to forecast SPU movement I would keep an eye on Nasdaq composite and PSE. If I see weakeness in composite and break of PSE 320 I will not mind shorting SPU but not on SOX alone-- Above 300 level SOX has a different kind of impact on the overall market. I will recommmend that a break below PSE 320 would be bad, on SOX I will like to only add if 242 is convincingly taken out. By the waty look at Qualcom it did come down to low 43 and bounced up nicely I see this is a good stock fundamentally.COMs and ASND are in play, Ericson is down and COMS ASND are up, I hope something is in the air.