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

To: Jerry Olson who wrote (21875)	12/10/1998 2:29:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

SPH 1179 for me is critical- if it breaks than we go lower. Look at current month i.e march contract I would think 1160 is critical also if 1179 is taken out and if all this happen just watch for the fun to start, 1160 the next move on March I would think if we crack that we go to 1115 possible and good outside chance.... NDX 1580 is the 20 days and composite 1960 with INTC and IBM down 2 each we may see some further softness, I would like your attention to be drawn to CRB index making new lows after three cuts that is something not very healthy and notice the divergence of 30 years I grade bonds yields at 5.65 with TB at 4.96, my premises has always been the convergence of these corporate bond yields and TB's with these widening of the curves, something someone is noticing and therefore my caution was high. You must have noticed my very cautious attitude and it is based on several things I am looking at market. I sold my Korea positions after a decent run and also took out Taiwan Singapore and Hong Kong, I will like this deflationary movements of this CRB index to stop falling they should find support somewhere otherwise add to this the 'impeachment uncertainity' although it is no big brainer, the Ericcson's warning, the Mercks, Sears and BA worries and you have making of a move down. I have been cautious and happy to see some more cautions but I want to catch if anything the top once for a change.gg I think I may be on verge of it..gg I was getting last time all these warnings at 890 and I could ignore them but to be warned at new highs is not something that I will like to burn my money on, once again I am extremely happy that TA was pointing to new highs and Jury is still out but at the moment the 'bulls' have some serious questions to answers, I throw an open challenge to the 'newly converted bulls' to give me good reasons for market to go higher, ggggg I am sorry I sound like Ralph Accompora.. What an irony old bulls were leaving the party the bears entered a bit too late for the fun to hit the fan. I am just joking Ike is turning bearish last time this thread did that we were quoted in WSJ..ggg