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

To: IQBAL LATIF who wrote (26571)	5/27/1999 4:22:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Durable goods orders drop Slow transportation orders lead to 2.3% overall dip in April, surprising analysts May 26, 1999: 1:13 p.m. ET NEW YORK (CNNfn) - A sharp drop in demand for transportation equipment reduced U.S. durable goods orders by a surprising 2.3 percent during April, a sharp reversal from the 2.7 percent increase posted the month before, the Commerce Department reported Wednesday. Analysts surveyed by Reuters had been expecting a gain of 0.3 percent during April. The March percentage increase was revised down from the originally reported 2.9 percent. Total orders of U.S. manufactured goods fell to a seasonally adjusted $194.38 billion during April, down from the revised $198.93 billion figure posted during March. Manufacturing remains strong Still, orders excluding transportation products rose 0.9 percent after climbing 2.0 percent during March, providing analysts with yet another indication that the manufacturing sector is slowly righting itself amidst improved economic conditions overseas. Earlier this month, the National Association of Purchasing Management announced its index measuring new orders in the manufacturing sector grew for the third consecutive month during April, while the Federal Reserve reported manufacturing output hit a six-month high during the same period. Analysts believe Wednesday's durable goods report is not only strong enough to reinforce the industry's improved fortunes, but also weak enough -- because of the overall reduction -- to stave off a Federal Reserve rise in interest rates, for now. "It certainly takes the edge off the possibility of them doing something soon," Rosanne Cahn, chief equity economist with Credit Suisse First Boston, told CNNfn. "There is no reason to raise U.S. interest rates without an inflation problem and risk some of the customers for some of the overseas economies. They need us to buy their goods." U.S. markets seemed to agree. After a choppy morning, U.S. stocks traded higher by midday while the benchmark 30-year Treasury bond remained down 13/32 of a point in price as the yield edged up to 5.74 percent. Aircraft orders to blame Overall, orders of costly transportation goods, which account for more than one-fifth of the total monthly orders, tumbled 12.4 percent after posting a 4.7 percent gain during March. Although specific industry figures won't be released for another week, a Commerce Department spokesman said a sharp decline in aircraft and aircraft part orders accounted for roughly half the $5.9 billion decrease in transportation goods orders from March to April. The other three transportation sectors -- motor vehicles and motor vehicle parts, shipbuilding, and railroad and other equipment -- all declined as well, but not as significantly, the spokesman said. As for durable goods, industrial machinery and equipment orders showed a strong increase, climbing 1.3 percent following a 0.6 percent decrease during March, while primary metal orders inched up 0.2 percent. Excluding defense-related items, durable goods orders fell by only 0.1 percent to $189.44 billion. Total durable goods shipments, excluding a $1.2 billion decline in transportation equipment, were flat, but remain 5 percent above last year's pace through April.

To: IQBAL LATIF who wrote (26571)	5/27/1999 11:27:00 AM
From: Kona	Read Replies (1) \| Respond to of 50167

OT, Cricket and Football(real). Ike, civilization is spreading, we are getting the World Cup on cable in the US. Not quite the same as being at Lords in June. One of my greatest memories is watching the West Indies pummel England there. Those were the days of Gary Sobers, Rohan Kanhai, Clive Lloyd, Alvin Kallicharan, John Snow, Geoff Boycott. I remember Sunil Gavaskar shots through the covers from Snow and Asif Iqbal from the Pakistan team from the same era. Actually the first time I saw you post, I thought of Asif. I took the day off yesterday to watch the greatest team in any sport on any planet, Manchester United ( I may be slightly biased) win the European Cup from a restaurant on Union street in San Francisco. I was pleasantly surprised by the number of equally rabid fans with red shirts in what is normally a sedate place. It is getting to be a very very small world. Oh yes, great posts yesterday, catching up with today's with a slight headache <g>

To: IQBAL LATIF who wrote (26571)	6/4/1999 11:40:00 PM
From: IQBAL LATIF	Respond to of 50167

The charting of market course like a true strategist... 1318 as the resistance, 2120 as next NDX stop, 1330 is 1318 is out and 2360 on Comp, the whole story gels with this post on 27th May .. when the market moved so did my levels.....Back testing 'Ideas' strategies' gives me the courage to see if what I outline actually happens or not. Nice to see that the 'Thread' logic adds up.... rom IQBAL LATIF on May 27 1999 12:25AM EST Look at this interesting chart.. quote.yahoo.com^SPC&d=5d Now I think 1300-1305 area has been a minor support on the way down to 1278, I would think that 1318 is a clear resistance now and 1328 the next, if we take these out we go back to 1355 in few sessions, we fail at these levels we come back to test 1292 or even 1250 support but BKX will be key here if 850 is solidly maintained we go higher from here to 872 we have only air between 852 and 872, quote.yahoo.com the test will be perfect, if BKX turns corner we may see 1328 been taken out, if BKX fails at 850 once again 800 will again be on cards but I would suspect this will only happen on back of bad economic or strategic number.. NDX 1960 test was below my 1980 level but look at this rebound quote.yahoo.com^NDX&d=5d 2050 is a small resistance once this is taken out I see 2120 as the next target if we fail at 2020 we will see big weakness again, read it with BKX closely.. ^IXIC symbol for COMP on Yahoo is one of the most important charts..2320-30 area goes back to some time since last three months it is a solid support, last night we turned up from 2339 well below my 2360 but as you know inter-day we can go down and spend less than one hour and come back up with BKX showing signs of strength that test of 2339 was a great test of lows...2490-2500 remains a solid obstacle hard to penetrate until inflation worries are over... but so far so good to pick a small drop shorted it and long from the bottom.. quote.yahoo.com^IXIC&d=3mm Global markets as I predicted were positive and probably will remain positive, the spillover impact never materialized. I had clearly outlined that anyone expecting that domino of global crises will be severely depressed that exactly happened, I am closely watching it the cycles of US and Global markets are at divergent pattern, the shorts of yesterday would find the going difficult as ASEA and Europe turn positive in the morning, that Oct 97 late night watching for big falls in ASEA is all over.. quote.yahoo.com Predictions need to be back tested, if they don't add up, it is better to wind up the shop.. I do it regularly and I think that is very very important to see if magic works, if ones logic gains currency..