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

To: J.T. who wrote (23001)	1/27/1999 11:17:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Yes If BKX does not hold at 772- we go much lower, however I think we will see a bounce off 772 and I also think that this is one point one needs to be most careful as not to be caught in the whip saw... I would rather wait for Nasdaq and Composite taking out the 2320 and 1920 if serious selling has to start. In the interim my trades would be like I proposed yesterday some straddled puts or straight puts below 1245 and to go long above 1264 area./. Internet mania after AOL today is unlikely to subside that would take the other composite and NDX stocks higher or firmer giving an arificially stronger look to the market... Below 792 remember my trade is to sell 840's and buy 750- I will like to cover these positions...Yes BKX alone can bring this party to ground along with transportation and SOX.. if BKX takes out 375 it can intra day slide to 350 within a week where it will be a screaming buy..I sometime thing that forecasting immediate intermediate and long term trends of the market on this thread makes markets look so darn easy but such is the activity orientation with my road map of the marekt I am able to work my plans and execution a little better than otherwise.. Traders on the other side of the desks in all those big houses know so little and are so ill prepared that anyone depending on them cannot expect to make a return.. You need to develop a road map and work on it.. However all of this bring me to this level of 1182-1192 on SPH which I think would be a buy and the market will turn from their higher, until underlying macro conditions change..Thanks for your regular update, I keep looking forward to your updates. Keep it up and best regards JT..