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

To: S. M. SAIFEE who wrote (21706)	12/2/1998 4:58:00 AM
From: IQBAL LATIF	Respond to of 50167

I think Oils have still some room on lower side -- I will like to initiate SLB only above 48-- when something is making 12 years low you don't need to jump in first... I will like you to continue to watch the RUt action and NDX at 1628-- please note that slowing economy will not be a positive thing for this market in long term markets run on growing economies and corporate profits are a function of economic strength - FOR ME I am watching all this very carefully will like confirmation of strong demand albeit leading to discussion on inflationary threats but in the end it has to be economic grwoth and if that is going slow the future prospects do not look great...I will like to only play with outside the money calls- as I am right now doing- we saw the test of 1535 on NDX 1505 was nt touched 50 days is at 1390 - the way I have been in these markets this was a healthy retracemnt it is over- I will only say if 1628 the previous high is takne out than Monday becomes kind of isolated on day move and we are going to resume that 1750 march... I will like SOX to break this 312 if this rally led by techs has to run and even take out 322 and 330-- so right now keep yourself foussed on global markets and numbers which are not coming in line- if fourth quarter corporate profits disappoint lot of fat needs to be off the bones..On IIX I think AMZN yesterday morning action was a great ocassion to leg out of your puts and place this bet on short side again if 1628 is taken out at a little higher level.