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

To: Neil H who wrote (23822)	2/26/1999 3:27:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think you would do well.. AMAT and even DD's will after a test of 372 on SOx and 155 on DDX will rebound, in my opinion someone asked me about DDX this is going to go to 155 but it is a buy at that level, one cannot overllok over all direction of the market when investing in idividual indexes for me 1192 should hold if it breaks anytime on SPh I will overall short of the market and expect a test of 1130--- markets dynamics and fluidity are two integral elements of my forecasting and any trade of smaller indexes has to fit in my SPH trading pattern. I think SPH index is representative of fears and greed of market, all information trickles down in that index, it contains the information like slowing down chip business or Korean turnaround or even bond rising yields. Sometime it moves wildly when speculation becomes the currency or when an info not prized within the index hit the market but it finally levels off. In normal days this index is true representative of market sentiment and feeling. It helps clear the flap whenever the run is extraordinary like we saw from 1215 to 1284.. We do trade off smaller indexes to look and observe for that advance info on the direction of SPH that is the time when we think that market in pits has not yet prized certain info, their is a possibility of deault arbitrage, like variance of NDX with \SPH rarely stays if we see NDX below 1980 today I would look for that short trade more than the long one but I will watch BKX and DTX also. If SPH sits on critical levwels, I reverse my role and look at SPH to tell me if I can stay long these indexes.. It is at critical supports like SPH 1251 1235 1192 and 1130 where I make decisions on overall direction and on interim supports like 1218 and 1210 1202 I look for intraday moves, I need to emphasise that without due acceptance and understanding of critical supports and interim supports nimble trades are not possible. Sorry for taking your time -I just thought that as education of trading technique is my prime objective I need to open up with my audience the inner queries which make me go for that level which I see every day, it is just ordinary plain thinking. A focussed apporach is more important than anything else for a good 'in and out trader'.. I try to improve on this by putting all my thoughts on piece of cyber paper. Regards.. Ike