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To: IQBAL LATIF who wrote (26077)5/6/1999 12:19:00 PM
From: mattie  Read Replies (1) | Respond to of 50167
 
Iqbal,

I don't like how the bonds broke support. The bond market currently rules stocks, however looking at the charts of the indexes, ie SPX, the charts look like we may head higher.

Solid double bottom at 1330. SPX chart looks like they will take the index up to 1370 to complete the 'cup'.

Interesting dichotomy. Bonds are reacting to Greenspan and rumor of employment report leak. Stocks may be forcasting a tamer report.



To: IQBAL LATIF who wrote (26077)5/6/1999 1:59:00 PM
From: IQBAL LATIF  Read Replies (1) | Respond to of 50167
 
Got out of all my long positions initiated yesterday between 595 and 600, momentum is just missing and bond rising yield is not helping either, the pits want to take the market to 1320 level, if selling momentum increases would be good to buy 1320 puts long. I will like to be neutral on them market and will not add any positions today, lets see where it closes, I think it may drift lower again to 615..


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