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

To: IQBAL LATIF who wrote (26758)	6/2/1999 7:47:00 AM
From: Logain Ablar	Read Replies (2) \| Respond to of 50167

Hi Ike: ASYT broke out yesterday, but on little volumn. We'll need to see if it and SOX holds today. The whole market looks a little weak <g>. I've trimmed my portfolio and am being real careful (for me). On market indicators and interest rates. The P&F indicators are reversing down and it looks like we'll see the 1500 pt haircut you indicated two weeks ago. Our economy is strong - my main indicators are one: 1. My brother has been working saturdays since January. From Sept. thru December all he did was eat through back orders with no new business. Since the 1st of the year he's been going gangbusters (his book to bill has been over 1.4). He runs an aerospace manufacturing operation (small only $10M in sales) and supplies Boeing, TRW, Pratt, Rolls Royce and others. 2. Housing. We're approaching where we were in late 86 to 87 where there is a skilled labor shortage in construction (and I'm sure all over). House prices are jumping in CT and New England. So it looks like the FED will raise. The question will be how soon and how much. We can now see one rate hike but then the market will be worring about a second. I don't think one will cool the economy or consumer confidence during the summer, but that is what the FED will start with to see if one is enough. AG will look back to what occured in 87 (we don't have the excesses in banking that we had back then) and not raise enough to punch the bubble but he will pierce it a little. Have to go. Tim

To: IQBAL LATIF who wrote (26758)	6/4/1999 11:27:00 PM
From: IQBAL LATIF	Respond to of 50167

SPM move to 1318 and 1330 and SOX move yesterday was again a classic example of a index which we picked up from 382 a test of 372. Since this correction began I have been talking about 'Techs out performing', it came a little late but what a move.... we tested 1987 and 2368 area on NDX and Comp but our read came true on SOX... solidly.. time and again these moves are capitalised on this thread, we go against all pervailing wisdom and identify an oversold situation..SOX move just confirmed what was on the wall..very clearly. from IQBAL LATIF on Jun 2 1999 4:35AM EST When I wrote this message market was down 120 points, I asked for some levels to be watched, we did break 382 on SOX and 560 on SDOT but Banking closed up at 831, the support highlighted at 2120 is where NDX stopped rather at 2125, and market after its inability to break 1282 -83 area rebounded and closed above 1292, I see this 1282 developing as a major support and looking 130 as a resistance if we break any of these the move will be steep 20 points..... either 1250 or 1330... I still tend to think that no big sell is in offing and only below 2108 we can see a slide to 1980... or 2360 area on comp... 1282 remains on my radar.. from IQBAL LATIF on Jun 1 1999 1:12PM EST SOX is holding 382 and internets 560 the support of last few days quote.yahoo.com^DOT&d=t, we need some solid breaks here to get the downward momentum otherwise we may see that we retest this 1292 on SPM.. Read BKX 820 and don't over look PSE at 518-20 with 511 support, these indexes should give you a shade early warning if pressures are building. With RUT still at 435 I need these indexes to give me advance warning of a break.