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To: IQBAL LATIF who wrote (26437)	5/24/1999 7:35:00 AM
From: Lee	Respond to of 50167

Morning Ike,..Re:.New paradigm of economy is not a hoax, rather in post war era we have seen fastest growth in productivity and efficiency Alan agrees with you.<g> He spent a considerable amount of time in his May 6th speech talking about productivity and efficiency. Remarks by Chairman Alan Greenspan The American economy in a world context At the 35th Annual Conference on Bank Structure and Competition of the Federal Reserve Bank of Chicago, Chicago, Illinois May 6, 1999 bog.frb.fed.us It is the observation that there has been a perceptible quickening in the pace at which technological innovations are applied that argues for the hypothesis that the recent acceleration in labor productivity is not just a cyclical phenomenon or a statistical aberration, but reflects--at least in part--a more deep-seated, still developing, shift in our economic landscape. stls.frb.org Happy trading, Lee

To: IQBAL LATIF who wrote (26437)	5/24/1999 10:12:00 AM
From: J.T.	Respond to of 50167

Ike, This is extremely sloppy action for a Monday-- the best trading day of the week. BKX breakdown and recent sell reco's by a major firm depict another leading index gone astray. No leadership anywhere in this market. IIX and DOT are hanging by a thread at supports, but trying to firm. Tough to go long here. Last three memorial day holiday weeks were not accomodative for bulls. How is ray and our friends in the pits doing? J.T. EDIT: I took the low road on July IIX puts on Friday.

To: IQBAL LATIF who wrote (26437)	5/24/1999 11:26:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

On IIX BKX COMP and bonds.. short BKX long bonds and if IIX takes out 312 a big break which ever side it breaks and prediction of BKX hitting 850 and Bond rallying and break of 2520 support of Comp..All in one post all coming true. IQBAL LATIF on May 24 1999 3:56AM EST IIX was well supported at a key level, I was concerned about the 312 level which has been a low going back quite some time, the coil like configuration worried me a lot but a bounce and a retest showed some interest. DOT is the other factor.. I would think that above 632 we would see some renewed interest and so would IIX benefit if we break this 318 area resistance. I am looking at 610-615 on DOT interestingly and also 312 on IIX, look at these charts and wait for initiation of positions at this level, until we see a clear bounce of these supports which are key supports. quote.yahoo.com Please notice this coil very clearly in this IIX chart and look at the rebound. this is the graphic representation of that lower highs and higher lows a coil ready to snap like a bhumbo.... from 990 to 1130 or 1130 to 1360... the problem here is that whichever side it breaks it breaks strong for me I am biased on the up.... but for me it is important to highlight the formation and risk reward.. clearstation.com. I still see no technical reason to long these stocks at these levels when most of the indexes and leaders show a downward bias, bottom fishing is good but let the market show me the direction, let this IIX thing sort out its direction. It would be great if all these individual stocks components of DOT and IIX start trending higher and bounce of 50 days supports.. I will like EBAY to break 200 ATHM 150 CMGI 245 and AOL 136, these are the levels at which I would think that momentum is returning to the market, unless these levels break you may have better opportunities to enter at lower levels. These charts show me no indication of bottom fishing, IIX at 312 shows me one trade and that long puts at 280 and long calls of 330, which ever side it will break the premium lost on one side will be adequately compensated by the move... quote.yahoo.com. BKX we have been underweight in this area and have used our short positions very well, I am looking at this chart and feel that 840-50 test is on cards, look at MER and C where 50 days MA have been taken out decisively, until 907 break on 2 closing basis this remains an underweight sector for couple of weeks. quote.yahoo.com^bkx&d=b quote.yahoo.com I highlighted alongwith IIX, 2520 support for Comp that also held very well, although 2509 was tested inter day we bounced off very nicely to close around 2520, since Mid March we are looking at this phenomenon of consolidation.. good basing on a higher level.... quote.yahoo.com^IXIC&d=1ym I need to see 2555 taken out for this market move up, that will only come if economic data confirms a slow down, I would think that my call on bonds has been so far doing well as I factored in European numbers which were lower than expected, we also are seeing some divergent cycles in Europe, France Industrial production numbers were stronger than expected although Germany came with weaker numbers, I would like to think that unless Europe see a turnaround in economic fortunes and activity the fears of inflation may have been overblown.