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: IQBAL LATIF who wrote (25473)	4/21/1999 11:55:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

For me some are good calls and some are just outstanding for me DOT 550 and IIX supports highlighted on 20th April post were typical example of a trader who amidst worst of selling comes in and buys the support. I look at the levels like 1292, 1980NDX and DOT 550 they look like music, nice to see the thread longing at such a low point and nice to see most of us took advantage.. <<IQBAL LATIF on Apr 20 1999 3:50AM EST DOT 550 has been a major resistance on the way up, whatever one can call this 550 where DOT retreated on its way up, the history of this index is limited and DOT is litered with big names and successful companies and some with .com at the end. I would think we had this nice test of 550 area, if we break this today and tomorrow we may see DOT drifting to 450 but most probably the selling has been quite steep, the calls to deliver stock after such a steep decline will be going out, the outstanding shares are limited and if what I am looking at technically is watched by others who shorted this index we may see a break of 625 the next resitance now, I would assume that it is worth a shot to go long at these depressed levels, we laways had this fear that what is going to happen to the markets if internets bubble is pricked we have this bubble deflated and all said and done we are at quite decent highs as far as market is concerned, NDX 1980 is tested and 1292 my opft repeated elvel was tested yesterday a point lower where SPM came back and closed at around 1302 level, so for me 1292 should hold I think we are seeing a movement in sectors although we lost a lot of premium on our May calls but selling DOT outside the moneys helped a little and now we can afford to add at these levels like I did last night, I will still not sell puts, if EGRP looked at 144 good the puts 100 were far enough now 30$ in the money, we may see that loss premium in calls is a loss which can always be hedged against a falling index but in the money puts are painful and crucifying. >> I look back at this post look at my previous messages where I highlighted several times that 1980 on NDX and 1292 on SPM is perfectly possible, although we saw a drift to 1290 on SPM and 1967 on NDX and 544 on DOT but the turnaround was equally good, I think a double close above 625 which I highlighted when market was reeling at worst will take us to 700 resistance, IBM will play very positive as stock has come up with great earnings, I look back at my several posts reiterating buys and I can just take great pleasure in seeing earnings setting the tone of the market, I would think that 1372 on SPM BKX 957 and 437 on RUT are objectives of the market. Nothing is sweeter than taking victory from the juaws of certain collapse, on Monday when I was writing DOT and entering new positions the premiums had just eroded, although I had traded the index down but adding at a support remains on of my finest trades, in intensity of the move as I made a huge leverage with huge outlay of the out of the monies was no less than 1310 entry back in Oct, it is at the most critical supports.