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

To: Brian Fukuba who wrote (19542)	8/26/1998 11:33:00 AM
From: IQBAL LATIF	Respond to of 50167

With durable goods order at 2.4% and Electronics jumping 12%, the markets will not neglect this for too long. This is not the market which will go down because the global crisis is deepening. With fundamentals strong like the ones we have seen today I would assume that somone will realise the values in SOX or Techs afterall Techs have gained 12% in durable good orders. The latest rumor on my machine is that Russian PM has taken over Russia with the help of the Army, here in Europe every one hour of trading we are seeing a new rumor, in my opinion the market has fully discounted the Russian debt problem. The conditions for Us economy look robust and I would assume that we will see unlikely a test of lows I would rather be inclined to think that we will see a run to 1092 to stop out the shorts, with numbers and fundamentals like this I have legged out of 1080 I established last night @ 28.80 and have left 1050 for a rainy day, I also took advantage to cover 1140 naked calls for 5, I am postioning to a bias on upside. I will think that it is a range driven market, we should see for a different ball game a break below 1055 on a closing basis.Until such time the 1011 and 1060 is a band in which this market is moving, until this bands get pierced I would like to just taking out something from the market.