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: James Strauss who wrote (25351)	4/15/1999 11:19:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think James yesterday action was nothing but culmination of our fears so openly expressed on this thread...<<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.>> unfortunately market does not like new converts, the day I wrote this message every 'Tom Dick and Harry' was going long, it is the level of 'skepticism' which fuels the market take that indicator out and you are in complete dark. Yesterday action flushed them out big time, weaker hands could not sustain the margin calls of yesterday,only those who had the guts to go long at 630 like our thread did on DOT. This huge move down imparted a lot of fear to the new longs,if market could forgive longs at 1357 on SPM they would desert it at 1390 andwe would face a similar problems, in my opinion the ability of market to stand upto 80 % of the correction as OJ puts it much beyond 700 level we all anticpated as I wrote if we break 725 we go lot lower, but I also was seeing the big short covering, it was day of hedges and I think they are sitting on huge profits and will cover above 725, that will be a short covering rally, some may do it today. This market with kind of earnings it is getting will move much higher look at BA GM F and others. Of course as Jeff Jordan puts it very nicely yesterday was day to get in and buy I think the thing is to look at RUT and BKX the indices which will move big, I am proud of this thread who showed greatest of master skills to sell puts at lows and buying calls,( although I discourage selling puts for a new investor,it has to be fully understood and selling calls and puts can be limited to experts who have the ability to raise money). Michael Rich, OJ, Judy, hjz, Jeff, Xorj,Labman all showed that 'killer instincts' when instead of ducking and leaving the post they led from the front, the thread was clear in its opinion, go long at the lows those who must have done found that quite rewarding.. To: Options Jerry (25311 ) From: IQBAL LATIF Wednesday, Apr 14 1999 12:06PM ET Reply # of 25315 Thanks for your post, great forecast, I was reading your friends post from P&F he was kind enough to help the thread during your one day absence. I think the market will be helped by earnings of MOT, Harley Davidson, Brokerage Houses like MER and LU guiding the numbers with very subtle approach. I am looking at TRB and MCD and CAT they are going to be the biggest benefactor of japan turn around, so I am long term bullish and will play in and out based on firm long trend, of course it takes no time to change gears if 1292 is taken out.. I think all this is part of high level consoldation. 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,....