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

To: thebeach who wrote (20156)	9/8/1998 7:21:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

In my opinion we should only look at things on short term perspective the way they come, HSI and Japan matter the most in present design of things-- we have this huger resistance at 1500 area atleast it was a major support on way down moreover we have a further point 15200 and the 15700 point but the reversal initself is quite good I would wait for the Tanken survey however for me these are important levels I based my trades on what I see at the moment I see 1002 as a reistance I see 1015 as a resistance, I do see now that it is to be at 960 a buy and above 1027 after two closes a buy we may not see the upper level very easily if we see those levels peiced today I would like to see this band of consolidation move up to 990-1030, these are numbers I have seen before and have a feel of them-- we need consolidation around these levels and as I have said even a test of 910 will do no harm to this market-- some more profit is very welcome.. On HSI I will like this close to be maintained, Bund is as expected much weaker a great move down and have broken thru the 13 days and 20 days MA trading at 112 area from highs of 114 and change, CAC and DAX are waitng for that political game to be sttled in Russia, in markets you rarely get what you want the trade was on Friday first was towards the end and second was the expectations of erosion and ASEAN Latin move based on $ weakness this is classic example of my directional trade, where I put huge monies at stake to win big, in the moves their are certain times where a right interpretation is important, right now I would be looking within my moves opportunities I will on a pull back from the highs if it opens high will establish my new positions after closing out my old.. Forecasting on markets is much more a tirckier job than projecting individual stocks, it is macro indicators which gives you the change of direction of the market, flukes will never lead you to any concrete consistent results- like a statement it will be up is good enough but at these levels of consolidation lot more can be made if you keep your options open, don't wait for the big one, go in and out with precision, I think it is for people like us whose whole lifestyle depend on markets that our approach has to be nimble, I see today another great day- if it moves higher my portfolio which I rearely touch will be moving higher but if it goes thru my supports my portfolio will not mind some widfalls which can only come on back of a volatile market, for me I will not like this volatility to finish soon, it anyway does not matter for me if we are at 1030 or 900 the core will never be touched however the more we see this consolidation phase the better it will be for a decisive move-- my targets for this month is 955-1067, we will see these two llevels atlest twice on upside and once the lower test which is going to be a critical test it is for this I will be out of my naked puts to give me that nimbleness if my supports are taken out, however 1060 will only be seen if 1027 is taken out on two closing basis..