Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: IQBAL LATIF who wrote (21675)	11/30/1998 4:33:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

<<<I have a gut feeling that the wideninng gap between MA's and market is not sustainable it has to retreat to its 20 days or even 50 days and I would think nothing better than settings we are about to have on political front and geographic uncertainities add to them the strong economic numbers and you have making of a good retracement, I would like as I am doing taking the profits off the table and preparing very deligently for thatr retracement, we are in this very tricky business of timing the market and it is never easy however going by what I have said if I see 1590 taken out I will suggest that one may aggressively buy puts and wait for that test of averages, I have been advising it all along but have also been rasing my trailing targets on NDX in a trending market to avoid whipsaw and wipe out this is the only way let market show you the way if it has to go higher let it go if it is going down let the supports break so far we have not seen any break of the support- we talked about 1520 we are 100 point highers we talked about 1555 we are 70 odd points higher- so where does that leave us? The conclusion is one dosen't go and buy puts like a fool and one dosen't keep predicting like a parrot for nine months out of 10 that market will 'down or anywhere' you make a strategy and you work on it - the way is to keep your SPZ trade levels as main indicators and get confirmation from suporting inidicators and keep changing those indicators as market is a fluid place you just cannot keep harping about one same index-- for me my old high of SPZ is the main yardstick if that breaks assoicated with 1590 and 9280 on two closing basis get ready for a reversal- this is how I have ridden a lot of trends and this how I have dismounted at the near tops many a times-- >>>>>message from IQBAL LATIF on Nov 29 1998 4:54AM EST