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

To: steve susko who wrote (21074)	10/26/1998 5:55:00 PM
From: IQBAL LATIF	Respond to of 50167

Steve-- This market is not about DOW, it is about composite and Rut as I nailed it few days ago,Rut as I have explained earlier will move explosively if 13 days EMA crosses the 50 days EMA in next few days genertating a long term buy signal, already we have seen this signal in case of DOW and composite NDX.x-- OEX and some of the other indexes are on verge of this cross over. The earnings are good and we may be looking at a nice run here.... if the reasons that DOW broke the supports were inability of broad market to sustain this rally by the same standard we shoyuld correspondingly see DOW catching up if broad market is moving higher.. So unfortunate that although the composition of the market and underlying dynamics change every day but we continue to find trades in dust, I don't see a trade right now in dust, for me if this RUT and composte keeps going higher this will result in a nice move up to take out the 8600 level on DOW, 1080 still remained unconquered on two closing basis, but I would think that we may see that tkaen out as 8600 is conquered. Right now with moves in RUT and Composite a 31 point move is 100 points on DOW, for all practical purposes the herd would feel a down day but what a strong finish, the whole market is nicely consolidating...This is the best kind of move a move without DOW and even Nifty fifty are out of this action-- I will like to see a good test of 1680 before we move aobve 1755 comprehensively-- a 1055 test my sixth sense tell me is coming soon, we had always seen this level three times before a move up and this will not be different.