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

To: IQBAL LATIF who wrote (22834)	1/22/1999 2:43:00 AM
From: IQBAL LATIF	Respond to of 50167

BOVESPA- 7000 support should hold if that breaks we go to 6500- that would mean a huge selling in BKX- short th BKX index below 7000 if the index stays below this support for 45 minutes, on Argentina a break of 340 -330 support will lead us to the lows of the 52 week that is 299- it is intriguing for me to see the 200 days BKX at 772 and look at Brazil 6500 which I expect to hold in case we see continuation of this currency crisis.. I will rather not cover my long puts until 7480 on Brazil is taken out.. A note-- If BKX weakens with DOW --Latin Ameircan crisis may help Techs and internet if that 'distribution in funds' theory holds good and we don't see an across the board sell off. Watch out for those signal at 2340 on composite and 1940-50 on NDX and SOX 392--a move up or inability to break these supports will confirm such a move..if these supports are taken short side is the best trade..