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To: IQBAL LATIF who wrote (18751)	6/30/1998 11:10:00 AM
From: Chuck Molinary	Read Replies (1) \| Respond to of 50167

Question to thread: Potential trading strategy? The company that I work for and many other companies offer stock purchase plans whereby an employee can apportion a certain amount of salary towards purchase of the company's stock. Typically, these plans run on a semi-annual basis, e.g., contributions from January through June are converted to shares on June 30. Most plans that I know of will set the purchase price of shares at 15% below the January 1 or June 30 price, whichever is lower. Many employees will immediately cash out of their stock as soon as it is acquired thereby capturing the 15+% premium. My question is can these employee sales provide sufficient downward pressure on a stock to drive down the price a few ticks? If so, it would seem that a short position established prior to the exercise date could be covered for a quick profit. Anyone have comments on this? What am I missing? Thanks, ctm

To: IQBAL LATIF who wrote (18751)	6/30/1998 12:16:00 PM
From: steve susko	Respond to of 50167

Congratulation on your excellent return.

To: IQBAL LATIF who wrote (18751)	6/30/1998 12:18:00 PM
From: steve susko	Respond to of 50167

Market should have dropped a lot more given the confrontation in Iraq. The fact that it's barely budge is a bullish scenario. I think it will continue its rally thru July.

To: IQBAL LATIF who wrote (18751)	6/30/1998 2:54:00 PM
From: steve susko	Respond to of 50167

Hi IQ, >> You wrote: I still think that 1892 area and 8910 area are two areas of resistance, DOW and SPU will be able to take them out. Do you see a pull back before the 4th of July weekend - market usually goes up prior to 4th of July weekend.

To: IQBAL LATIF who wrote (18751)	6/30/1998 4:31:00 PM
From: IQBAL LATIF	Respond to of 50167

The rally in the afternoon I predicted when composite was down 10 points did come true. This was in my opinion very simple to predict once I saw the news on Iraq I could imagine that this nothing but storm in the tea cup, I could see that it is higher possibility of rallying higher from 10 down however if 1876 would be taken out the trade could have been entirely different. During the day one just cannot afford to pre-determine levels on long or short side it is always good to design a level on short and the long side. It is also useful for consistent return to have a clear cut bias, iffying becomes problematic in my opinion, once the levels and suppports are determined second guessing ones game plan has to be avoided. We took out 1892 and closed above at 1894, but SPU and DOW still below that 8910 mark and 1152 second close, I think we need now a consolidation above 1892 and I would assume that the way things are arraying I would tend to incline towards a possibility of Techs beating lowered estimates. This may take SOX to 262 area and Composite to test the 1918 area. JPN looks promising to me.