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

To: GROUND ZERO™ who wrote (25059)	4/8/1999 12:44:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

GZ-- I admire your calls, I think you are one of the 12 tops I have on my list and I closely watch, my congratulations and my flecitations to great trades you post on time. You and the guys at 'Systems' have introduced a New World to upcoming top class traders in S&P trading. One small piece of advice ' think contrary' on opening if we see a big drop in a up trending market on a non-fundamental news, find your supports and go long. I see you have great technique, my hats off to you. Karim Pirani is another great admirer of your, when we were in KYC, we did discussed you as a stylish trader. The kangaroo court proceedings were summarily dismissed, the meat got rotten. The stars screwed up like Jerry Favors does ninety out of 100 times. People who until last year could not profitably trade a single share propel these mantras and someone exposing expertise by a single Favors seminar is a abuse to 'trading intellect of the markets'. If you have not paid your dues to the market don't assume a mantle beyond your capacity, either know it well or don't keep investors out when AOL is at 92 $. When schematic self-styled gurus keep out innocent investors, I think nothing is more damaging. These small investors pay or are here to read an honest opinion to misguide them with half cooked facts is dishonesty of highest order, I call spade a spade. The markets bruised the puts, and trample them, markets can only be learnt in the markets, and that is what you and I do. I think we maintain some place for an investor who wants 'opportunity' and expects a realistic view. I am abused for that, for the crime of exposing these lamentable characters. You saw Independence, the aliens who after destruction moved on, same way these man of no fixed addresses destroy and move on. I see this as 'central' to any post, 'Put your money where your mouth is'. No computers are big enough to chart human greed and human greed in the pits is as big as width and depth of that Pacific Ocean, like big blue could have charted the chess moves. If a super computer could have charted market moves LTCM would have cornered the global bond markets. However, something happened that has never happened before. The computers of LTCM were destroyed by traders like me who saw that 135 is a anomaly and shorted the darn thing longing the market, this very Favor was buying puts and suggesting 5200 on DOW at that time when I made my long buy call. The computer lost, the noble laureates went to Fed, we small guys won, so imagine what happens when someone tells me he is cocky because ' Jerry Favors' told him so. Like this runner when was last time Jerry was right? This thread is evolving as the conscience of realistic reading of the market and I think that was a big vacuum, which needed to be filled. I will like to be a speaker on global issues and its impact on the markets. May be issues like cutting hype and finding reality, for that I do think a concise plan could be made and one can talk and educate, but to make innocent investors feel that knowing 275$ waves will make you good enough is recipe of self destruction. I always recommend that one should know his fundamentals well for day trading. One should be smart, open up approach, light hearted, broad horizon, like 'knights' of medieval ages, traders' have to have a similar personality. They are not back stabbers, they are not jealous, they don't pick up 'Ike post to change their directions' every five minutes popping to see me. ggg Strong traders like you stick their neck out. One should see to it that world events are properly interpreted and their impacts are known. Try to see that all news is trickled in the price of the market that is SPM, and do what the market does and don't expect an iota more. Imposing Jerry Favors strait jacket on the market is unfair, a market on weekly charts will appear like a rocket launched up with a escape velocity, now where do you find waves, it is only in Jerry Favors head. If this market was at 2000 and trended between 1000 and 2000, all that crap which these runners spew could have some validity, but the fact is that in last 2 and half years., you cannot see a wave from 4000-10000 the march has been rocket like. I saw that some these day night minute change of heart traders went long, we trapped them down and got a great close yesterday, dazzled them yesterday morning, they have since yesterday like last three years no idea, in cricket we call it a 'googly that bamboozles the players. Watch out for BKX break of 900-910 region if we do that the whole broad market moves if we fail we go down to retest 855, however it looks we will break.