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

To: steve susko who wrote (19521)	8/26/1998 11:41:00 AM
From: IQBAL LATIF	Respond to of 50167

Steve- I think that pits would like to run this to 1092 to run the stops, all these rumors get filtered in the market. In my entire career I have never seen or heard so many rumors coming out periodically, from Coups to disasters, something and someone is big time short. We just are not able to rightly see or analyse the consequences of a full blown Russian default, for example First Boston has written off 250 million $ 's from their bond portfolio today and if you look at BKX it is really down from 953 although I admit that it has a potential to 700 and markets will test 1060 or even 1030 but this going to be one good buy on the lows I have just mentioned. the pits are not ready to sell and if your bell weathers are not giving up no way you can take SPY down to 1000- you need to see DELL, CSCO and other of my big bellweathers cracking they are rather up, with my best ability to short I just covered in the morning could not see reason to continue. I have all these bellweathers on 9 days MA alert, nothing on my screen I will be shorting only if my range is taken out otherwise in and out remains the best approach.