Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: IQBAL LATIF who wrote (26765)	6/2/1999 9:51:00 PM
From: Investor2	Read Replies (1) \| Respond to of 50167

Re: "Weak Europe recovery, also weakening Euro ..." What do you think this will mean for the European stock markets? I'm a little overweighted in this area, through diversified European mutual funds. Best wishes, I2

To: IQBAL LATIF who wrote (26765)	6/2/1999 11:50:00 PM
From: IQBAL LATIF	Read Replies (5) \| Respond to of 50167

Every day from my desk I see market and write in middle of a bad number a positive report, when everyone else is thinking about disaster more often than not 'Idea story' is different, I make analysis from a view on the balcony, I try to see behind the number the facts which are buried in hyper selling, as markets sold yesterday at 12.16 this was my post.. IQBAL LATIF on Jun 2 1999 12:16PM EST << - Strong reports good for corporate profits, a lot of selling but only to create opportunity. That is what market is all about.>> Within forty five minutes nearly all my levels were reversed, the BKX which was below 820 to 811 came back right up to close on 822, DOT that visited 827 came to close above 850, even we did not see a single close. I wrote to Tim in the morning and highlighted the supports at 2360 and 1980 on Comp and NDX 2364 and 1987 was tested. The best part of it is that I write it as I see standards of gloom being raised. I think when I trade I may be little early but dead on the trade. I am looking carefully at the changing economic scenario, but I don't neglect falling oil prices in my analysis if that was the cause of blip in higher commodity inflation why not a forward looking analyst discount it once 19$ was unable to be pierced, I shorted OSX at 81, we are 72, we highlighted 383 support on SOX and 372-75 area we exactly reversed solid. Yesterday I had to write amidst standard bearers of gloom this.. <<I think AG must be looking at this report very closely, however it is this oil prices breaking down from 19$, stronger $ i.e. imported price stability continues. Weak Europe recovery, also weakening Euro, CRB index just above contract low, gold prices in the dust, all this in no way points out to any kind of inflation, in percentage terms from falling prices we are now looking at commodities stabilizing, if even asset price inflation was what Mr. AG was worried about the busting of internet bubble and amazon.bomb kind of articles must have bemused him. As if other problems were not enough the new houses have hit the market the markets long term rates have moved up, for me bonds are long here and I look at a contrary trade at supports. I think we will see these important supports hold well like 1980 and 2360 area, but market does like excesses and would like may be more selling but intelligent people know strong new houses and strong growth with low inflation has led this market to this level, the market is adjusting to changes fast as such a test of 1250 or 1230 is on cards but this is just a healthy correction. A market going up comes down too, may be a single rise is on cards to rattle the asset inflation however on fundamentals my trades are cautiously short within break of supports and covering at 1980 on NDX sold NDX calls at 2115 break and would look to cover, if 1282 is out I will be shorting SPM to 1250 area... >> I could not cover at 1980 as I never saw it I covered on the way up at 2005 on NDX and also went into SOX 340 calls for July and sold NDX 1840 puts as I covered my naked calls on the way up. It surprises me sometime that why I like to stick my neck amidst carnage, I think that is what a thread is all about, think opposite and think on the background, the issues I raised in the morning resulted in that big rally of NDX to 2074 level,,, nice to see that thinking always help... it is always good to look at various broad issues and trade accordingly when you are ahead of the herd you make money. < Most of the threads at 1987 or at 1216 probably were calling for big drop 'the mother of all breaks'. I was sitting and writing an opposite story here 6000 miles away to write about 'opportunity' amongst gloom is something I look back and feel good about. Long bond and think contrary was my slogan at 1280. I think of those at 1280 and 1980 or 2360 of those who can be potentially whipsawed, I tell them don't you worry Ike has all corners covered I don't see a rising storm, this is what makes this thread a unique experience. My lurkers don't trade as much but they like my holding of hands they find this small corner Ike's Ideas to be place of soothing experiences amidst hotshot gloom. I treat knowledge with respect, I apply it on my trades, for me SOX moves up, and the trade is long SOX.... INTC AMZN was a buy and still is like AOL... CMGI. My policy to wait for the false break also time and again works perfectly we saw it that is DOT at 527, the shorts were having great fun and we saw that reversal to 554. We trade in and out and I bring a new story every day I see events and think about them for me history, politics brinkmanship and market shrewdness all in one makes a thinking trader one needs to be a thinking trader, otherwise this market will whip you out, look at 1282 level we saw 1280 but briefly, if SPM does not break and indexes start reversing from lows think different.. get out of your shorts and establish long.. The following should be good watch,, for me this is what day trading is all about make money on the way down recognize a support and go long....every day the fun and the party goes on.. Keep looking at 820 on BKX an 1282 this last night was the fifth test, it would take a big surprise in unemployment hourly earnings to reverse or break for me trade opposite to the herd you will do well... if 402 is out on one closing basis and next morning we see it first hour to maintain the level we go up to 440..like 2500 on Comp will be tested this is a bounce off 50 days a little below in some cases and I am thinking that unemployment PPI CPI 11th 14th are important dates, trade on volatility and enjoy....your time with ideas.. It is all about major supports and resistance learn them by heart.. quote.yahoo.com