Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: IQBAL LATIF who wrote (24067)	3/5/1999 1:53:00 AM
From: IQBAL LATIF	Respond to of 50167

A great close on Nikkei with a great 710 point rally, the important element is that this rally took out the year high and closed above the 14700 or the critical 200 days MA level, it is now looking straight into the eyes of next prospective resistance at 15000, a formidable one too. I would think that anycae a test of 1228 or a break of 1255 I will lean on break of 1255 right now or both within this session it seems JPN has turned around the corner..I will not initate any new positions in JPN right now only above 15000 and that too after considerable wait to see it close up there three times in a seven day session. Once that 15000 resistance is comprehensively taken out, the back of bears will be broken like HSI action changed the heroes into zeros, remember the cry of the media on intervention, where in the name of free market the hedge funds were feasting on Hong Kong double play. quote.yahoo.com^N225&d=1ym If we have a good rally today in NY we will see Nikkei taking out 15000 in next few sessions. I have been forecasting a longish JPN position and over this period this positon has suffered but to see it come back up right here is very good, is Japan rising from the deep deflation. The jury is still out but I see some life at the fossilised corporate Japanese structure. The market is moving and have been little more concerned about shareholders returns and lost virtues of wealth creation, this is a big change in japanese attitude and they better incorporate this change or perish.. Surpluses virtues of protectionists are now losing currecny, it now appears that country which employs the credit best is the country which ultimately leads the race and crown of the economic leadership of the world.