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To: IQBAL LATIF who wrote (22787)	1/21/1999 1:20:00 AM
From: George Mc Geary	Read Replies (1) \| Respond to of 50167

IQ, Japan was above 14,300 today, closed at 14,245 Bunch of selling on close. One, above 14,100, need one more and we will be off to your 15,000 level soon. Have the 150 Feb JPN calls as of last Fridays close. Regards to you and yours, George

To: IQBAL LATIF who wrote (22787)	1/21/1999 4:45:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I see a euro-sterling trade - long Euro at .7020 for seeing .7150.. Argentina rumors in the market and expected devaluation of Argentina rumored..this can take us lower on SPH- the trade would be to short below 1252 to 1228 or even to 1210.. if 1252 is taken out..

To: IQBAL LATIF who wrote (22787)	1/21/1999 9:09:00 AM
From: TobaccoMan	Read Replies (1) \| Respond to of 50167

>>" Undoubtedly investment sensationalism like CNBC background music makes moves sound even more drastic than they actually are. Many a times triggers are pulled at wrong moment only because CNBC short-termist makes it look all hell is breaking looses,...." << Amen, Brother! I flew into a rage the other Thur. when I tuned in CNBC after the Dow dropped 200+ points and I found the anchors screaming from their desk "This is a SPECIAL ADDITION of Markte Edge (or whatever)" and they had in big bold words on the screen "THE THURSDAY SELLOFF"!! This type of sensationalism only leads to an emotional rollercoaster for the many of the markets inexperienced small investors who get taken by the hype. What investors need are facts and education - not Jerry Springer or Oprah on Stocks. Thanks Ike for your continuing education. Regards, Tobaccoman

To: IQBAL LATIF who wrote (22787)	1/21/1999 10:14:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

My father just went long Amazon at 94 at 120 calls. The revenge of the hedge funds has been executed. From Zain (an emerging trader)

To: IQBAL LATIF who wrote (22787)	1/21/1999 10:24:00 PM
From: IQBAL LATIF	Respond to of 50167

Why did the market sell--from clear station.. The earnings reports this quarter for technology companies are coming in very nicely compared to expectations. In fact, so far it appears that the ratio companies beating estimates compared to missing estimates is exceeding the typical 2-for-1 ratio. Perhaps more companies have learned how to play the game. Consider that after the close yesterday and before the open today, the following companies have reported earnings in excess of expectations by the amount noted: Quantum +5, VLSI +3, Lucent +5, Altera +3, Silicon Graphics +8, Read-Rite +19, and Electronics for Imaging +8. The instances of a technology company missing estimates, or even being in-line with forecasts, are rare so far this earnings season. Yet, the market reaction to most individual reports has been disappointing. Overall, the Nasdaq has been boosted by the report from Microsoft and companies rising in anticipation of upcoming reports, but the cumulative reaction could also be described as disappointing. Perhaps this is not all that surprising given the phenomenal run the Nasdaq has had since October. The market has been anticipating that earnings reports would be on the rebound (at least compared to expectations) and that has driven stock prices up fast. Wall Street is usually slower to raise earnings estimates, or at least reluctant to get too carried away in terms of the current quarter's numbers. So, when the numbers come out above forecast, it not only isn't really surprising, there has also often been selling on the news. This trend may very well continue, especially if the macro factors such as Brazil provide a drag to the broader market, and if Internet stocks let some air out of their bubble. Individual stocks may continue to make moves in advance of reports, only to sell-off if the numbers are only a bit above expectations. This quarter, it may take a blow-out number for a stock to maintain momentum, while an "in-line" report may be considered inadequate by traders.

To: IQBAL LATIF who wrote (22787)	1/21/1999 10:38:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

from IQBAL LATIF on Jan 21 1999 12:20AM EST---What can I add to this? after a post like this one just see that market dances to our script.. look at AMZN forcast the buyer at 190 will find a buyer at 90 that was probably me.. the support of AMZN is at 80 and Yahoo at 240 I will like to long them their by selling DOT Feb 550's get the ptrmium and buy the 120's or 290's.. the market pays for you if DOT goes back up to 550's your AMZN and Yahoo calls will be much higher, to get a better ride add few BRCM's calls...1255 was taken out 1232 market closed very near to my 1228 and now with a hair cut from 199 to 90 of AMZN and Yahoo's hair cut from 465 to 255 I think one can safely look at some calls here.. we need to watch BKX at 799 SOX at 397 below my 401 and don't forget IBM earnings and all these techs beating estimates - at 50 days MA most of these comanies beating estimates are buy.. DDX will take off too.. IOM looks good so does Qntm at 24 and RDRT at 18.. but 50 days test of these indexes is a buy .. markets don't sell badly when we have companies beating estimates.. A fortnight ago I raised this prospect of 'buy the rumor sell the news' for earning seasons but at the end if earnings are to be considered alone ALTR at 52 is buy like LU at 95 or SUNW at 88 if we se it their -for aggressive accounts a bounce off 1210 can be a good point for super conservatives one can wait for 1192 which I plan to see within few weeks if today we have 1228 support held. IQBAL LATIF on Jan 21 1999 12:20AM EST- As far as my strategy is concerned I am a strategist with a game plan with a plan to execute for me when I am out of my 'bhumbo phases' I am looking more at intermediate targets.. Supports and resistance's which I follow religiously, I think first I need to get this 1255 support taken out decisively today if that happens I have this 1228 and my strategy between 1255 break and 1228 would be to play a put spread. Otherwise I will continue to expect that 1292 test on the up.. Once 1228 is taken out, nothing happens to this market we go and test 1210 like we use to test 910 in our old days the 'bhumbo 1' phase from 750 to 990-- and the huge support at 845 area, right now I see this 'bhumbo 2' phase with a target of 1350 and with supports at 1192 and 1130 as the support equivalent to the 880's on the previous the 845 equivalent here is the 990-1000 area, during the course of the year that will be seen and tested, the opportunity binge.. We come here in these markets every day to make our trades on the side of the trend, many a 'hero's' have a different agenda that is to shoot out a game plan, 90 out of 100 time that may have no resemblance with reality. However, as SI trades need no margin calls these guys survive if INTC is at 25 or 140$. .. Look at the 200 days EMA on NDX see the huge gap which needs to fill their and if AMZN YAHOO or internets are not going to fill this gap I assure you MSFT is not the target. Look at my game plan of yesterday I was long on BKX which did touched 802 again but rebounded from that point, however knowing EXCITE has come good I still was looking for a long put trade on internets and that I did, I went against conventional wisdom and got it right..---- ----- ---TXN MSFT INTC NOK.A LU CSCO, you name the stocks we are in, these are the stocks that have led the market so far. We have made multiple entry on these stocks at all levels from low of 60's on NOK.A to high of 127, we made several calls and identified several option strategies to buy out of the money calls. Replacing in the monies with out of the monies and closing the deep in the monies taking money off the table leaving very little on. Leveraged on the call side but with little allocation for market moves up at these levels was the only strategy and it has perfectly worked well.. The only risk for a trader was the last premium paid which can also be recovered if 1192 is taken out on SPH.. For me BKX second close above 815 is good, C will help the market as MER did and I think that DOT needs to break 500 support for NDX to go lower. Initially that may constitute some selling pressure but the distribution is right now happening in front of us and we will see more of it as some one who has bought AMZN at 190 will try to find a buyer at 90. Right now look at 1255 if that breaks expect a late bounce off 1248 area or we go to 1228- if we don't hold their we go to 1210 and 1192.. On BKX we need to be very sure if 799 is taken out just short the market where ever it is you will see at 772 on BKX market testing 1175 support a shade lower than 1192 but that is what I can see and I will play it according to this strategy.. SOX or PSE are once again in the limelight and as far as they remain above this old high of 401 I will be comfortable with the market.. If it breaks 401 for two consecutive days my strategy would be to get out of my SOX play and reenter at more appropriate levels. 'RUT' and 'Transportation' break of 427 will also be a point of concern for me, these are many of the things amongst others like macro economic numbers I am concentrating on, and most probably like 14100 on JPN coming true we will see out targets being hit on 1292 and 430 on SOX otherwise we have this strategy where we play a different set of game with slight modifications..

To: IQBAL LATIF who wrote (22787)	1/22/1999 1:19:00 AM
From: On the QT	Read Replies (1) \| Respond to of 50167

"I think two things for trader are important, one a trader has to be open minded and able to move nimbly on two sides of the market secondly the generation of buy should not take ages in a bull trending market. I would make a similar observation in a 'bear market' where one needs to identify that it is really a bear market on macro economic fundamentals after a two quarter of negative growth and than make an appropriate plan to play the bear market where any strengths are sold into." You make an interesting point. In both cases, we need to identify our method of play, recognize the nature of our playpen and implement our strategy. I find your posts and the some of the posts on this thread filled with fresh and open minded approaches to a very challenging and often rewarding undertaking. Looks like some of you are very successfully putting your money to good use. Regards QT Of course one still needs the right stock, like Dell, that is, if you are betting positive. :) Anyone else with a favorite stock that seems to work best with a particular strategy?