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

To: Jerry Olson who wrote (20266)	9/10/1998 9:20:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think yesterday break fo 1010 was critical and my call to buy some puts equally very timely, I would have kicked myself if I would not follow that strategy, still I think your point of too much of bearishness is well taken, the Starr's darama of two black vans with 36 boxes under preying eye of media have made market to discount now the painful process of impeachment, how much this lame duck presidency would mean to Russia, market wants to be sure that someone will be incharge, the investors would like to sell first and ask questions later, I would think back to 955, I just don't have this ability to look beyond that at the moment, I would exactly work the way I traded last night pre-position my self, long shots as to 7000 or 750 are outside my understanding, at the moment if 200 on SOX is taken out I will like a put spread 160-190, on Banking 640- 580 spread.. On SP I will see if 984 is taken out- I would like to see it trading to 998 area before any slide down, I will closely examine 1000 resistance if it is reached however the market my move higher from a very low globex start. This extreme bearishness in background of strong bond and Primikov is not giving me that end of the world signal but trade needs to be realistic if that is what the market wants we will accordingly befriend the trend.. I will like to buy some more of 900's just Oct for insurance on a bounce if we see even on a break of 972-- leave them their--