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

To: Riskmgmt who wrote (21506)	11/19/1998 8:38:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Pull back is part and parcel of the market, the markets tend to go to extremes and in case of bonds this was the example of highest manipulation. markets are never perfect bonds did not belong to 135, they were manipulated by the locals the people close to pits knows the tale well the locals in my opinion are the people who took the Merriwethers and Scholes to real School of trading. Trading is domain of these school drop outs the 'locals' who will exact pain until the Merriwethers give up it was like Yen when I wrote at 155 that Rubin will be able to bring it down without intervention but as trader he knows where to talk the $ down without wasting billions and that is the benfit of having a 'Trader' Treasury Secretary.. Right now the shorts are being squeezed it is the question of how much pain they can take a threshold where no more pain can be taken is very near to the break but we still see that on Bonds that threshold was passed by 3 points the pain threshold was at 132 we hit 135 as Merriwethers and Yen shorters could hold well as they had support from major banks only when the plugs were pulled they came down to terms but as I ahve always said extreme movements are manipulations 1320 was selling of the year and that was one ocasion when we all should pulled the trigger to go long and like wise 135 was that point of extreme pain here NDX is in break out but if internets give up we will seethis testing 1391 my levels, my levels are once written will be achieved it may be 1550 before 1392 but that we will see the divergence with averages cannot continue too long.. I will therefore start preparing for that nest of puts...... soon