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

To: IQBAL LATIF who wrote (21734)	12/4/1998 3:27:00 AM
From: IQBAL LATIF	Respond to of 50167

I think the market will be range bound in ext few days between 1129 to 1172-- I think NDX inability to close two days above previous highs is sign of some uneasiness, I still think that 1505 test and a successful one too is a must ofr this market if it has to move up to 1750 it needs to see that the new owners at these heights are as committed as Ike was when market tested 1320- so owuld market like if it breaks 1505 to test the 50 days average such has to be the resolve of new owners to see the profits disappearing and still believe in the thing- if 1642 is taken out on two closing basis this market is heading for 1750 the target is moving out, in other words manipulation is clear people are made long and than get crucified- we had this 1632 single day close yesterday NDX went all the way up to 1642 got people long and ditched them to my support of 1575-- this was a strange action and depicts serious resistance ahead- however as I have said I will be looking at SOX and DDX and MSH PSE kind of indexes- to take a cue for SPZ and NDX- in my opinion NDX is the most volatile index if SPZ is middle aged man NDX in terms of advance indication is Carl Lewis, it is very fast and very volatile- I do take advantage of these several indexes to reverse intraday- Lets keep SOX if it break 325 we may see some selling in semis this will be assoicated with NDX dropping to 1505-- we may see that 1535 may be a rebound point too.. so for SPZ I would look at 1149 1142 a break of this could lead to 1128-- on upside we will concentrate on 1600 break to go long...