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

To: George Mc Geary who wrote (18872)	7/9/1998 6:51:00 PM
From: IQBAL LATIF	Respond to of 50167

So finally the interest rate fears are out this is part one of the economic ice age or age of overcapacity and overbuilding-- may be all of this is right let Nikkei show me the direction let it go down below 14400 and I would think that the ice age is finally approaching. At the moment my little economic knwledge shows me no sign of big drops NAPM above 46 is still considered as growing economy-- we can even live with one or two below 2.5% quarters. Employment at 4.5% is nothing but nearing a level which AG always has termed as unsustainable. Even if we go upto 5% on unemployment this slow down will result in new round of interest rate cuts with cuts in inheritence and capital gains arounfd the corner as Newt Gingrich tells us we will see a new cycle in interest rates with long bond yield dropping from present 5.6% to solid 5%, this drop alongwith 3% increase of GDP in Europe which was practically flat last year I just don't see how to fit this jig saw puzzle. For me these reports have no meaning I see what market is telling me if my suports are broken below 1715 on composite I will be the biggest bear around. I work with ranges for me my range in present circumstances is within 800 to 10500 I will see this range nad think that present economic conditions warrant very close observation of global markets like Ido every day and respect of our key supports. Unless those suports like 1900 1892 on composite 1118 on SPX even 1130. 338on PSE and 242 on SOX, unless these are not taken out I will not short the market, show me someone who shorts without these supports being broken and I will show you a man who is bleeding- whipsawed to the hilt.