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

To: vish ramamurthy who wrote (24503)	3/19/1999 5:08:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

OT------------------------------------------------------------- Vish on << You are simply too good.>> I open my Idea shop every day and I have all these 'great' directions to set for my thread benefit. I have this levels and resistance approach that has worked wonders for me, more often then not my directions and levels are respected, however each passing day increases the pressure onus and responsibility to carry this right through. I hope this thread becomes the thread of threads and our calls an important read for pundits, all this is only possible with dedication, integrity and posting of behind the scenes analysis. I know one thing that market is bigger than anyone and these things are minor, one needs to maintain his humility when talking about the market. The respect for markets is a must. Today Global market levels are representative of ' long collective human struggle to empower disease, illiteracy poverty and distance'. I consider humility of a trader vis a vis markets as the most important virtue, no one has ever beaten the markets and no one can ever claim that, if you treat them with respect and deference they talk to you,ggg like markets tell me their levels every morning.ggg They love me for my greatest respect for this 'greatest show on the earth'. Market calling is something that comes to you over period of time if you respect the central characters and don't try to make remarks like 'I feel like shorting the market' the moment one becomes bigger than the market he is cut to size like puts of my bear friends.ggg Deviate from basic issues which define a market move and the correct call will just never come like a born poet market forecaters like Abby aregifted individual, may be looking at my track record I am becoming one, my task to face music every dau a little more diffuclt.. It is for this 'big headedness' and belief in 'nowhere to nowhere models' that 90% of call options expire worthless, no computer is big enough to chart human fear and greed. Trading which is a 'halographic image' of our collective fear and greed cannot be charted and hence you see mass worthless expiries, the 'locals trading' is above charting, their short term approach is like one of the billions of chess moves, a grand master thinks of a different move each time, the 'locals'are grand masters and we don't still have a big blue to chart their moves. If computers or models could predict market, nothing would be left off the market, mechanised trading would take all the fun as super computers will win each time, it is that greed which breaks those programmes and we see stocks to new multiples, in all liklihood these multiples are not their to stay like 'internets' but avoiding them is a losing proportion, trading them with a profit orientation an art. Nimble in and out is the gmae plan. Trend is the name of the game, never ever stand in front of the market! For me my 90% of call or put options expire in the money, that difference is basically due to my ability to cut the bull-shit of the nay-sayers, stand by the market when it needs me the most, and feel the market pulse correctly. I think the day passed is a day finished, all past successes are forgotten on this thread. I have to worry about the next day, this is 'Idea of the day' when I envisaged it couple of years back this was the target, a tall one but one that I accept with greatest honor and humility to the market. I am getting nearer to my target, but still lot of consistency have to be displayed, a lot of hard work needs to go in, may be in another few years with all this history written all over on Idea thread I will like to speak on market directions and forces of manipulation, if it comes true please don't ever miss a chance to listen to 'Market Maven Ike', a oldish character, who you may see on US lecture circuits speaking on markets and fundamentals. Amen... Until such time I need to keep calling the market right to make this track record.. Consistency and humility vis a vis market are two basic ingredients of good calls. On <<Where are we headed in NDX, sp500, composite and the dow ?>> I think I wrote 1470 as my target few days back I maintain that but I will think that we can see 1251 before we move higher, profits have tobe taken in and some money needs to be spent on some out of money worthless puts, they will be handy..Only buy these puts if 2015 is taken out on NDX, you can sell 2250's on NDX and purchase 1250's on June S&P contract..