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

To: IQBAL LATIF who wrote (19317)	8/15/1998 10:35:00 AM
From: J. P.	Read Replies (1) \| Respond to of 50167

IQBAL, Yes, the 200 DMA chart clearly demonstrates that for the past few years it's been bedrock support for the DOW and has provided a starting point for rallies. So here we are again at the 200 DMA. Now, obviously, the question is do we bounce smartly off this average, or do we have a consolidation period such as we had the second half of last year? For the moment I'm switching to a new strategy of selling call premiums until the market verifies that it's beginning a leg up. Then I'll go long. In other words, I'll just play a sideways market for a while. It's getting very pessimistic out there, which could bode well.