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

To: IQBAL LATIF who wrote (20347)	9/11/1998 6:07:00 PM
From: IQBAL LATIF	Respond to of 50167

Cutting edge-- Nothing speaks better than success! The market spoke much later- we knew it all along since morning NIKKEI was down 780 points- we never wavered, we made logical conclusions and we came out as winners, this was my call today--- Friday, Sep 11 1998 7:49AM ET Reply # of 20354 <<I was not able to read Nikkei or ASEA neither Europe we were up but in the end it looks that we may be opening higher and that was my underlying read. I don't read much from Globex but in Europe I have seen lot of short covering on Tech stocks, our opinion is very clear we think that market has earnings and this is an opportunity.What it looks like that in extreme pessimism the shorts are unable to keep this S&P lower on Globex, I would like it to open lower go lowerr so that I may be out of my long puts and leave my shorts as it is and go up, but it does not look like that... I think I have seen Nikkei much lower, also HKMA were not in a need deterrred by this overwhelming bearish sentiment and will pick my stocks at the right time, until such time I have been very successfully implementing my longs puts strategy, I was seeler of puts on long weekend, I was buyer of my 901 puts on day of rally, I was again buyer of puts when 1007 was taken out on close day before yesterday, got out of them re-estab;lish my spread and waiting for market to open. It is very few ocassions in my career that I have made greatest return possible one was when SOX hit 137 July 96, other was 28th Oct 97 and may be this time around is a opportunity to use my trading profits in what I think are great companies. My startegy is simple below 947 the second dip not the first today I will be short, on the first I will be out of my puts 950, I think I am going to mantain my bullish stance and will certainly load up on DDX and SOX..on the way up -- On weakening $ it will benefit the markets you will see it, a company which makes 10.000.000 Mark profit when reparptiates that profit back into US at 1.86 to $/Mark makes a 9% lower profits when same profit is repartiated to US at 1.69 $/mark... forget about the profit growth, the exchange translation helpsa lot, the statement of income of INTC will surprise a lot, in my opinion INTC last night has jolted a lot of shorts they will run for the cover- the markets will not be ruled by emotions it all boils down to your long core positions, for me trading is the short term goal where I like to make profits but adding to long term holdings at lower levels is the most important thing-- as far as market is concerned the external events never drive the market it is the macro-economic fundamentals the trades we do on that basis have far batter chances of a success. I am strictly looking at my levels will act with lethal accuracy and come out, this is the game plan but CSCO TXN INTC MSFT are not something that I will not sell- >> I made nine calls in last four sessions, on day to day moves from that eventful Friday to go long at the test of lows, the going into Tuesday huge number of short puts, reversing at 1007, closing out at 1060, leaving last night with 2 to 1 put spread and legging out of the long puts at a loss of 11/2$ on the opening and closing the 910 at 4 $ which I sold for 7 week to the point- making net of 11/2- now I am long SOX and DDX with excellent positions in INTC-- I also closed out my sterling mark trade with a profit and the sterling $ trade finally came to my level as DOW rallied, as predicted in last post bond yields rose and so did Latam- the only thing I know is that we are here with two objectives one is to identify global instruments which make money on short term this includes Bonds, and equities and currencies, the second to get into core portfolio and identify the right kind of stocks for long term- on both counts we have in this week of turbulence done well-- we were at 1027 we closed the week at 1009.. All of this is possible by reasoning and identifying a trend before the herd does it, I agree I may be day or two early but nothing even a 800 point drop of Nikkei or 180 point drop in DAX or CAC let me to go bearish my feelings came true on LATAM and US and that is the bottom line. At 1.20 I wrote market goes higher from the rebuttal I placed my long positions without even looking at the Starr report- no one had it than but this looking forward and knowing your stuff well unlike the herd who looks at Nikkei close to make their judgement- the market for these '' self styled shorts'' was to be big time down, little do they realise- market is all about levels- trade your levels and know your geo-politics well-- great week for Idea-- ASND was mentioned today as a target of LU in Business Week- Day in day out making a trade is the objective and last week has been most gratifying........ Have a good weekend-- NASDAQ 55 up is equivalent to 250 DOW points they say--