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

To: IQBAL LATIF who wrote (25314)	4/15/1999 12:07:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think it is important during the day to keep an eye on the level of euphoria.. I think this is the most dangerous of signals, with this in mind I wrote yesterday that.... it turned out to be a vital call if you look at the timing, although I am still long on INKT and have added towards the end calls on SCH and EGRP, as I think that we have seen a distribution and we will continue to see that as DOT re-aligns. I wrote to someone I think one of my friends here that I see a divergence in DOT and the solid companies. AOL YHOO EGRP SCH INKT may slide a lot less than DOT, we saw that move to 846 where we got out of our profits and now are looking at a low DOT, this shoud hold and close above 725 otherwise we can see a lot steeper correction a double close below 725 will not bode well. Wednesday, Apr 14 1999 12:06PM ET Reply # of 25331 << I am only worried that people who have been short are now longing, I would like the market to trap them i.e. rattle them get them short and bring the market back up to 2350 on NDX thiscan take the market as low as 1980 on NDX within a trend. This is a approach I have seen very often in this high trending market, any ground troop movement or any big bad number can rattle, the shorts who are now long will need to be off loaded, wehn it is something that volatility will define, but the earnings are looking for <<I will on break of 2155 sell 2350's to buy 1300 puts on SPM to protect these premiums, I write my cover strategy so as to give maximum insight in my approach to handle these markets at these new heights.>> great.>> What I know that lot of money wasl ost as NDX broke thru this 2165 support, now on one hand I was entering INKT and TRB which really did not suffer much but on the other I was keeping an eye on DOT ..725 a level I thought may be hit but was pierced theu, I went with my naked sell at 2340 I did not get 2350 but did not leave this positin open expecting taht we will not see limit down, I got out towards the end making some 7$ and change so right now I am thinking that if 2080 area holds we will be alright but as I have explained this is now a huge breadth people are looking at various other investments and RUT and BKX looks like heading north solid with EGRP and SCH results expected to be good and EGRP ready to announce a split according to some net based rumors on 20/4 99 I would think a selection of these stocks could be good. Below 1323 short this market if 1318 is not held after first break the room will be good for full 25 points on SPm and a great deal on NDX. Go long RUT above 405 and BKX above 905.. <<IQBAL LATIF on Apr 14 1999 11:57AM EST I have entered INKT when it hit 134..DOT is at 750 level, I expect it to hold within 20 points of this level, I think we have seen a normal retracement from highs to levels where the suport demanded, I could pick this good but so far one needs to get his neck out if we need to go back in. The pits were short on the opening, my computer was down I wished i could write they wanted to cover at 1355 my oft repeated level. I do know right now where it is, I bought 140 May, I have also made entry into TRB, MOT, 85 calls July, CKFR 70's, EMC 135's rather I have used all the profit of INKT and got into these varied stocks, I will on break of 2155 sell 2350's to buy 1300 puts on SPM to protect these premiums, I write my cover strategy so as to give maximum insight in my approach to handle these markets at these new heights. I think my BKX and RUT call will do very good, the stocks I have been highlighting like American Express CMB JPM C MER are all flying, RUT is doing well so far, but when your money is on line it is always good to have a fallback strategy.>>