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

To: SE who wrote (23581)	2/17/1999 11:15:00 PM
From: IQBAL LATIF	Respond to of 50167

The other sectors like NDX and composite are selling hard but it was tranportation at 315 above the 50 days and BKX which remained firm on otherwise a very solid programme selling day, they hit the market at the right time, I do agree with you that SP9H contains all trickled down news of the market sectors. Right now it sits below 1235 its moving day average not visited except 10th feb for a day, I would think if we are unable to pierce it upwards and cloase above we will see 1192 and may be 1130..1780 on NDX is on cards as we will see some hard selling, but like always anyone who was short yesterday onj opening was closed out as we moved higher to 1256-57 area where on first reistance we failed to drift lower to 1250 and than by a programme sell which put skids under the market. Today my strategy would be to get out of my protective long puts above 1238 and let the 1150 run naked.. If I see a lower opening I will try tp leg out looking at SOX and BKX and DTX action..That is how I am going to play today..great fun to read and play the market and much more a fun when one can identify with in a move a sectoral break propsect that I did on SOX 392 yesterday, as I have repeatedly said on this thread it is overall picture that matters the most for traders like us.... Defining the market strategy and covering all bases is a dynamic process and fluidity is the name of the game, that is exactly what we are aiming at.. To play the market to define its moves and identify its important levels and last to see if we can go back to our posts and find if we were right or wrong because if we are wrong more often than right our accounts shrink that leads to doors of makret closing on us, my motto is market opens every day keep your cash and trade, for me to see myself long at right time and short a shade earlier is hallmark of deisciplined trading, thisis integral for a trader..emotionless discipline with a inter-related global and US indices trading mechanism..