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To: IQBAL LATIF who wrote (23505)	2/16/1999 8:45:00 AM
From: IQBAL LATIF	Read Replies (5) \| Respond to of 50167

This support of transportation index shall hold.. quote.yahoo.com^DJT&d=1ym A break below 3054 or atleast two closes below 3054 may take us to 1080 area, but in my opinion one needs to look at this support and expect it to hold like 750 of the BKX did..200 days MA and 50 days MA confluence are most trickiest to tackle and most rewarding if you get it right, here I see a long trade on DJT with a stop loss at 1210 on SPH... A long call with exit if 1210 is taken out rather 3054 on two closing basis. I see $ strengthening and most of safe haven currencies losing ground against $ like swissy and sterling, Ministry of Finanace in Japan announcing the buying of Govt bonds from mid March and I am watching banking results in UK with interest it sum of is all telling me that markets may not sell rather DJI support at the 20 days ma 9270 or 50 days at 9100 shall hold..This watch is a bird's eye view watch and needs to be very carefully looked at as new mantras to resolve the direction and next move of the market does not seem to be in short supply.. RUT should show some signs of movement but taking out 402 resistance, I expect that to happen, if 9100 and DJT 9054 and 390 on RUT is taken out I will think that we get down to 1192 area in first step and may test as low as 1080 a major support..on SPH.Global indicators alongwith US indices are best tools to play this market..

To: IQBAL LATIF who wrote (23505)	2/17/1999 1:16:00 AM
From: IQBAL LATIF	Respond to of 50167

We did test the area of resistance at 1256-57 and retreated. Dell earnings going forward has undoubtedly put a question mark going forward and we may see DELL at 65 before moving up, I would wait to enter in DELL although HWP for a change came up with some face saving earnings.. I should think that 1232 is now an important support and I reiterate that DTX at 310 is good as far as 304 is not taken out.. I would assume that on globex NDX is all over the place as low as 1910 much below 1923 my critical level however in actual trading as market opens I expect some buying and a move to 1980 area, if it drift lower we should buy 1210 puts below 1923 break, market if it breaks 1232 on SP9H will take us to 1210 in two sessions.. I will not be surprised to see 1210 on Friday but we have to see NDX breaking this support at 1923 and SOX decisively taking out 388.. The following post described the market action and its failure possibility where it failed, it never really took out 1258 to attack the old resistance of 1262.. Tuesday, Feb 16 1999 3:26AM ET Reply # of 23534 I would like to trade SPH long above 1980 on NDX, if I see some stability above that level, staying above 1980 for an hour or so, associated SOX breaking 396 and BKX taking out 788. In presence of these indicators we may see a run up to 1255 area we may see even 1257 form where it can retreat