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

To: IQBAL LATIF who wrote (19261)	8/12/1998 8:27:00 AM
From: IQBAL LATIF	Respond to of 50167

Now that the markets all over in Europe are in great rebound, yesterday call that it will hold 1060 and rebound to 1080 is again a confirmation of success of reason over voodoo- Mr Rubin trick to ''trick the traders'' have worked without intervention ''so far''- but they will not be quiet for too long they will test the resolve by Friday again on Yen. Russia is up so has NIKKEI not gone to the dogs and once again we are looking to hit 1092-- however the fact remains that when market open higher they drift lower-- the buyers ulike October have never really sold and most of our stocks like INTC CSCO IBM MSFT are not at the tragic lows of Oct so that values may appear- it was a market which punsihed they already punished beaten down sectors without really taking a chunk off major stocks-- what does it means if majors have not sold and faced even the most ferocious of selling losing a point here and a point their- it only shows some one out their is looking at top line-- someone out their know that one time charge of 2 billion of MOT to structure Dram business is step forward- someone out their knows that CPQ has taken one time charge to take over DEC and someone out their knows that GM will not be striking for next 52 days and someone out their knows that top line revenues are being talked down the market is being manipulated by the big guys we are holding well and a consolidation of the market is in place- AMAT earnings will help market so does DELL-- look at retailers like WALMART and others they all are beating numbers and we have a solid pattern of consumption absence of which destroys economies-- on one hand 12 trillion $ of wealth has been generated on the other people are spending within means the Banks are raking huge profits and inflation is low-- and if all this means every day ritual of 'bear mind' bear talk' so be it-- it is going to go to where it belongs- the consolidation of market and internals of market are not what ADL's or NHNL's it is about the real internals the prospects and macro economic environment- it is the corporate prospects and macro economic environment which makes internal weaker or worst-- watch out for macro economic bad news the market will sell not to return within fews days, the market uses human greed as its fuel, if these fears are to be believed and even half of the world defaults even the cash will loose all its significance.......watch out at 1092-94 if it opens higher we will see some steep profits being taken out I will cover my naked puts.....think contarary . this is what short term market is all about. Think fundamental block out noise- and go for raw facts not voodoo-- until this Yen is not once for all decided and China supposed devaluation which I think is politically not feasible the fear will bring voltality..be prepared for that.