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

To: IQBAL LATIF who wrote (26102)	5/7/1999 10:37:00 AM
From: IQBAL LATIF	Respond to of 50167

Pits indicate that they will take the market up to 1352 will square there probably, one interesting point is the higher lows on SPM, 1318 1320 1327, but they are all confused and probably the opinion in the market is that construction sector job requirement are increasing and are very high, the new job created were 20000 higher unemployment rate inched up to 4.3, the willigness of pits to sell at 1352 is important, a long trade at 1318 with a stop loss at 1312, a short trad at 1352-55 with a stop loss at 1364.. a little generous on the upside..DOT 625 isthe reistance and until 628 is taken out no need of getting involved, the stocks to look at AOL EGRP above 628, BKX until 907 is taken out I would be cautious. Overall a cautious approach with trading and chipping some profits if possible from futures, in al ist less market like this a market making new highs need lot of momentum, I see that little bit of failing momentum and to get it right we need to see volums and money flows along with the bonds for that early cue, if market stays within a range we get kind of cramped with space, like a batsman who gets delivered a good ball and is unable to bat and is cramped, we need that move and only the break of 1318 or 1364 will give us some indication, within the 1318 and 1364 the premiums are really dried.. However it is important to know a 'listless' day and also know how to prepare for action when we get that break whichever side it wants to take us, remember take what market gives you, that is what an old hand told me, I havel listened to him and have survived.