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

To: Victoria Vasconcellos who wrote (24157)	3/9/1999 11:44:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Thanks for a good definition of 'Bhumbo', I hope you are doing fine.. I would like the market to stay above 1290 level on SP99H and hope that we have two closes above this level so asto give me a confirmed move to higher 1330 level, I am sure that a move without testing 1251 will be not a ideal move and hence I would carefully like to buy SP99H puts for April if I see 2330 taken out on composite. that would ideally translate with NDX 1978 support. However te fact remains that we are in a break out pattern, OEX is up and so is SP99H breaking that 1290 level SPC 1278 was already taken out and hence SP99H is just a mere formality. SOX a break below 378 is a tradeable break otherwise just keep a close watch of NDX and composite. The pits are still concerned about 1251 but I remeber that last time when we had this huge rally in NDX and composite we tested the 50 days MA at much higher level, outside the time frame I had in my mind, we can have simlar situation here but I have kept very tight stop profits for my new positions on TXN INTC CSCO SUNW ALTR SNE's.. Let it run but I will not hesitate to cut if my supports like 1262 or composite supports are violated.. I wrote that since every one wants to go long at 1251 we may not see it right away but this rally will see a set back to 1251 before it closes above that pivotal 1330.. Ni and best regards to everyone on the thread from Kuwait..Love and regards. Ike