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To: Logain Ablar who wrote (26759)	6/2/1999 8:51:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Tim .. Look at this COMP with MA's, quote.yahoo.com^IXIC&d=1ym DOW is sitting at 50 days MA quote.yahoo.com^DJI&d=1ym i will watch it carefully. I think since Aug 98 we have pierced this 50 days ma, last time we broke it 200 days MA was tested and taken out albeit the last time it was global deflation and not inflation which removed the floor under the market, I would think falling gold prices, strengthening $ and weak recovery in Europe alongwith higher bond yields are doing Uncle's AG job better than he would handle by rising interest rates, look at the huge gap between 50 days ma and 200 days ma now the last time we broke the 50 days MA it took combo of LTCM and meltdown in GKN's and ASEAN countries to take out 200 days MA, for me we are in a correction mode sitting very nicely on 50 days MA, if we break this we may test 2100 the 200 days ma's but I don't see any problem beyond that. I will like to continueto follow SOX which I think will bounce soon, PSE DOT BKX all are sitting at 520, 550 820 until we break this I will trade interday opportunites, for me 1282-83 is a good support and I think SOX 375 will determine the immeidate future of RMBS ASYT type of stocks.

To: Logain Ablar who wrote (26759)	6/3/1999 12:03:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

ASYT and SOX moved late yesterday an analyst had a good word to say about semis, that really brought in the rally of 90 points from low on NDX, that is quite good. I see your point on over heating but for me markets have handles this very well so far in last few years of this trend, I totally believe that these news are in no way indicative of a sea change in economic directions or fundamentals. One number or even couple of numbers would not do it, the model based on which US flourished like US that Anglo -Saxon economic model ha succeeded the Japanese Europeans HAVE JUST FAILED or missed the boat. For me inflation will only come if out put gap and capacity utilization start converging. The wage pressures are equally important I need to watch ' hourly earning' this issue will make and break this market. If I have to give some credibility to last ECI may be we get good surprise, we may see lower unemployment but stagnant wage pressures that would help but anyway I would short only below 1282 right now we are watching it carefully. I think we can perfectly visit 200 days ma that is comp 2100 and still be in our bull trend, the values are created when INTC comes down at 45$, not many like to miss it, I for one as TRADER LOOK at these oversold hypes and position myself accordingly. For me it is about 1980 2360 and 1282, we trade these levels and right now we need a close above 2055 to have a good go tomorrow otherwise this 2015 break will take 1980 this time around.