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

To: IQBAL LATIF who wrote (21048)	10/23/1998 5:59:00 PM
From: oexplayer	Read Replies (1) \| Respond to of 50167

Ike: Good day! The last few days, I have seen numerous posts on SI claiming we are overbought and some say (Favors) this only a bear market rally! While I agree to an extent that we are slightly overbought, and could retrace or consolidate for a period, doesn't this all seem to be purely microanalysis on their part? It puzzles me how so many continue to fight this bull with all their might. The last few weeks have demonstrated considerable improvement in breadth, new highs, and brought about a market of many leaders! My point being, if one had taken your lead, and entered properly, any short-term retracement could be used as a buying opportunity? I should point out violation of the key supports you've listed would mean all bets are off. Perhaps the biggest cause of these deviations is one's definition of time. Two people could quabble over any hypothesis if their time frame was unalike! Your writing leads me to believe you trade trends, and time is not a key factor in your decisions. So if my assumption is correct, short-term fluctuations mean little to your decision making as long as the trend remains intact. Is this premise correct, or have I misinterpreted your teachings? It's easy for others to question your hypothesis when short-term trend loses steam. However, my point in all this is that the ship has set sail, and big money has been made. Incremental movements, with the bigger picture intact, pose little risk to the gains that have been already been captured! As always, thanks for your insights and your contributions to this thread! I'll be "dancing in the streets" this weekend, and hope your doing the same! Regards, Kevin

To: IQBAL LATIF who wrote (21048)	10/25/1998 4:26:00 PM
From: Jeff Jordan	Respond to of 50167

Ike, Amazingly, economics was one of my better college courses? But I know I had a great teacher. For some reason I was never board, it has helped me greatly in business and investing. I hope to move into commodity trading one day and I'm sure my basic economic understanding will benefit me more there. However, in todays market investor sentiment is a very large volatile factor as well. Jeff angelfire.com angelfire.com

To: IQBAL LATIF who wrote (21048)	11/3/1998 5:45:00 AM
From: IQBAL LATIF	Respond to of 50167

''I could easily say tonight that DOW will fall, 7 days in a row can make me a champion but that is not my style of forecasting, I will like to see what has changed from yesterday I only see a very very bullish development that is a close above 1080 level and composite breaking out the upper resistance at 1680, in break outs I don't look at habits of market even if the odds are in favour, I would rather be wrong but I stick to my script'' Above from my 23rd Oct post-- when everone else thought that DOW should take a breather...When sentiments of to fast a move became common on SI I wrote on 23rd Oct -- message from IQBAL LATIF on Oct 23 1998 9:01AM EST Jeff-- ot My thread is tradeable economics, I am the author, unlike Noble Lauretes I have my own script and try to see if economics can ever be traded, it is for this I need a little explanation of my trades.. Economics as subject is quite boring I try to know the fundamentals of a move, I could easily say tonight that DOW will fall, 7 days in a row can make me a champion but that is not my style of forecasting, I will like to see what has changed from yesterday I only see a very very bullish development that is a close above 1080 level and composite breaking out the upper resistance at 1680, in break outs I don't look at habits of market even if the odds are in favour, I would rather be wrong but I stick to my script, I cannot afford to keep rewriting my script like others it costs me money and loss of trading profits. I just don't know where the heck one can claim for market to be down if we are closing above a major resistance, this kind of projections lead me to know the artificial theories which are used by the self styled standard bearers, ralph accompora kind of characters they keep changing with a wind, imagine one gets out at a break of 1500 now where does he get his stock positions back, how does his account look after being hit for capital gains, by the time he re-enters at 1650 area the same guys are expecting a decline. It is for this that one needs to trade in between levels, I assure you that crap we see around is untradeable crap for a ordinary joe bloggs like us.. I write detailed memos because I like to explain my self, I feel morally oblige that even if I am wrong I should justify my position, atleast this keeps my concious satisfied, for me writng on this thread means a lot, considering the following I have and PM I receive it would be unfair just to say market goes higher because my junk mathematics tell me so, I have considered charts as useful tools only if they confirm my fundamental picture, it was a known fact that this market is unable to back up something is wrong as snap back rallies are not of the same intensity but imagine that when that rally came it made sure that put premiums disapppear, like wise when RUT and broad market weakening was signalling a weakness by smae standard these very same character who have 98 out of 100 time short now should look at RUT and broad market indicators as sign of strength, but since 'it is habit' and patterned trading we see days being marked, 7 days in row so keep writing about a sell signal somewhere every market sees a down day, but yesterday even at 80 down I was still writing we go higher it is a composite led rally, DOW may lag but it is different times-- play market differently with new scripts otherwise habitual scripts are exposed. I know it is kind of complicated but that is how I try to explain the markets, knowing the intricacies and details will over period of time after paying our dues in due course make us better traders, I do that most of the time for living and I need to be careful my lifestyle dpends on it, I have to make money on both side, what a shame that even with best of my ability I am known as prema bull whereas I have more bear trades this previous period than any bear could ever imagine, thanks for your time and comprehension. I beg your pardon if I take too much of your time, just skip if I ramble some time, however I need to empty my brain here..