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

To: Chuck Molinary who wrote (21453)	11/17/1998 3:21:00 AM
From: IQBAL LATIF	Respond to of 50167

Thanks I hope we will do that.

To: Chuck Molinary who wrote (21453)	11/17/1998 8:46:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

By luck or by design major global indexes sit very nicely just below major resitances or just above major supports looks like CAC at 3612-- DAX at 4750 looking to take out the historical 4800 and Helsinki with BVSP looking to take out the next important levels by the look of things these indexes will break these interim resistances to go higher and today's meeting will either make it easier or coming strong economic data will make it for the indexes to go higher, in absence of any major threat the global markets look poised to move forward.. ON S&P we may see 1155 as interim reistance or a second close above 9000 may be delayed but overall market looks well settled for a move higher it will come from composite and broad market and probably the techs may lead instead of traditional laggards they have been.. Interest rates news may temporarily affect the market but we will see a base being developed this market needs a close watch of NDX-- if 1455 is taken out we will short this market as I expect that this gap of 20 days will most probably be tested, in anticipation of rate cut my bias is lot of short covering before the number hence a weaker opening may be soon a stronger until number results come out in case of cut we may rally in RUT and broad but DOW may lag on the other hand a no cut situation in my opinion will be more bullish even if initially we have some selling.. RUT 402 NDX 1500 and IIX 445 will mean new highs been taken out and many will run for cover as new highs are taken out and new money flows in it will be difficult to crack but once these levels crack jointly we will go very fast up as lot of money will chase few targetted stocks one can be INTC..so we need to look at NDX carefully if thaqt is lagging I don't care I will follow the cue from it that will give me short term run profile the long term potential reamins intact..these RUT type markets just don't give away in short time..