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

To: oexplayer who wrote (22684)	1/15/1999 11:13:00 PM
From: IQBAL LATIF	Respond to of 50167

Kevin-- Look at my morning trade long BKX. MER C WFC-- all these stocks took off in the last hour so did SPH towards my target of 1255 much above the gloomy 1210 the lows of day before yesterday...Nice to see these moves scripted well in advance on this thread and SOX 403 is another breakout in offing...Now the breakout to be real we need 1255 to be taken out on two closing basis that will happen soon..Brazil call lead me to selling of 1250's SPH and buying of 1250's SPH when on opening market was up only nine.. I see it closing 1251's which is quite a move and very helpful, probably at 1245 I would have exited on short puts and long calls but good capitalisation of Brazil .. Friday, Jan 15 1999 10:08AM ET Reply # of 22687 Long WFC C and MER with long calls at 815 on BKX is my trade... cut it out only if 1192 on SPH is broken.. Now this one example of how to take advantage of what was happening in Brazil. I issued a buy in banking when BKX was still only up be 7 points at 796 much below 799.90 my first important resistance but I knew it is going to fall like a nine pin. That it did, look where it stopped like a bullet in the bulls eye 815.09 just shade above my target, which I posted day before as important target to breach for BKX yesterday if I had to turn the break of BKX to 787 as false... now here I get up in the morning as I told Ray not to wake me up 2.30 AM my time when NY closes.. I see it sitting right at my target. The puts sold at 750 at the lows must have lost huge premiums the calls are in the money. At the end of the day it all is possible that I am bit or some time very early like at 1320 bottom is that I can see that world is not falling apart..