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To: IQBAL LATIF who wrote (19022)	7/22/1998 4:19:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

My support levels 1155 and 1967 the market respect them- and prediction of close above 1970 on composite today-- a chronology of posts--since 16th July---- interesting to see that these points do gain currency on SI----it encourages me to find new points and on try to work with composite levels to trade SOX is proving to be a very helpful indicator---OEX SPX are regularly used but composite levels as a cue is a very interesting technique. -- To: +George Mc Geary (18959 ) From: +IQBAL LATIF Thursday, Jul 16 1998 11:13AM ET Reply # of 19024 George I would like this composite to move down to 1970 level- for a surge higher -straight up from here is not good. I will like some SPX puts like 1155 below 1995 level on composite-- I was out of APM and some SOX today- I will keep with a view to 300 and add above 280-- take care.. To: +Jack T. Pearson (18997 ) From: +IQBAL LATIF Tuesday, Jul 21 1998 10:16AM ET Reply # of 19023 IBM and TXN strongly up on forward looking statements- IBM call 120 looks a great winnner and so is our TXN-- I am thinking to go long SOX 270-- I will close this position below 255-- I am also thinking that TXN 65's will do well-- anyone shorting IBM would realise that these stocks are winners, a dreadful season for put buyers my calls onm CSCO EMC are already in the money I am taking these hard earned moneys off the table and will let my long portfolio to do the talking-- Northern telecom we went into it on 60 long calls it is now a strong buy-- enjoy this cup winners cup rally-- and best of luck to every one-- 2050 is the target-- 1967 is on the down side a important support--- To: +IQBAL LATIF (19011 ) From: +IQBAL LATIF Wednesday, Jul 22 1998 8:17AM ET Reply # of 19023 I think a healthy retracement but I was watching Ely and other earnings if yesterdays action was based on bad Merck expectations I would think todays action will be based on good earnings after close yesterday-- there is not much in there for shorts they would run for the cover on an important support I will cover if 1198 is taken out or stay with my present position until 1155 is hit once and I am sure of the support-- with IBM on 128 and MSFT on 116 I doubt we will see composite any lower then 1967 which I think should hold-- I think BVF and TEVIY AGHP IDPH are few stocks one can closely lok at-- I will like abounce off 1967 or if it opens higher will closely watch 1986 area as first resistance-- To: +George Mc Geary (19021 ) From: +IQBAL LATIF Wednesday, Jul 22 1998 2:25PM ET Reply # of 19023 I have seen these kind of things far too many times-- the 1155 support is maintained but I think the most positive was test of 247 on SOX although 247 on SOX was tested the rebound to 252 was equally impressive-- this CA thing is one off thing or if we have another surpprise but none of these things have got the kind of potential to take the market down like IBM CSCO INTC or MSFT-- look at the brad market my bell weathers for me the spread is useless until it closes below 1155- I will not leave my portfolio withou hedge if 1155 is taken out if that happens otherwise I will buy some more puts expecting that my 1967 support is broken- I am sure we will close above this support otherwise this leg can take us to 1935 on composite-- I will think that 107 divided by 2 is the 53.5 is the correction level but sometime we overdo it-- with earnings like QCOM one of our highlighted stock I would be surprised if we break key supports. Any way justice demands that we should have Oct 1130 puts in case 348 on PSE is broken that would signal some serious selling in sectors which are holding well. My levels are 1155 on SPX 1967 on composite and 247 on SOX these should be respected I think we will close around 1970 level on composite- lets see..