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

To: MonsieurGonzo who wrote (19508)	8/25/1998 7:52:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Steve- Bund is slightly higher running away from me it was 113 51 the last I saw- I decided to add another --- on MATIF at 108 strike paying 66-- now I am expecting that this deflationary issue may be rested with one strong number of US economy. If I take you back to May we had similar arguments about gloooom and doooom, about ASEA and soft US corporate profits, the coming inflation or deflation by mid June market had shrugged those worries and by July 20th we had seen this move to 9337.97, the composite index also roared and was up 17% to pass the 2000 milestone it retreated from 2028 shy of my target of 2050. I would think that now that earnings are over and all that bad mouthing about world coming to an end is little forgotten I would like the market to repeat the claender motivated move- the May earnings left the doom and gloom now July earnings are out of way some smart ass will realise that MOT CPQ and GM special provisions are one off events- the revenues minus computer and peripherals special charges like CPQ write off DEC and MOT writing off its DRAM business and TXN selling of its meemory chip business will now leave some talks of buying these stocks- I do see that book to bill ratio is at all time low but when I compare it with ASEAN manufacturers of semis and their finaancial woes and look at US companies unwiliong to make cuts in investing in ASEA like SUNW, and others I am forced to think that something is a miss here and the only way is that we will after three vivible tests of lows will make an attempt to take out the 8900 level-- on the down side I am little refining my level of support and moving it higher to 8425 I will like to watch the market below this point.