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

To: broken_cookie who wrote (26780)	6/3/1999 11:00:00 AM
From: IQBAL LATIF	Respond to of 50167

Fed is after 'asset inflation' he knows it that CRB contract at all time contract low does not mean asset inflation also he knows that wage presures are minimum, he looks at ECI closely and last month ECI employment cost index a quarterly AG favorite was just weak. The Feds have been ahead of the curve and are getting market in line that is what they want, AG is no fool he knows it well there is no inflation. It took quite some time for the market to go from 890 to 990, we should take some earnings quarter to consolidate the move from 1110 to 1380, we need some retracement too and S&P P/E multiples should fall back in line, the fat in DIT is removed andas the investors who entered at 800 on DOT lick their wounds new opportunities shall be created at 540 or 500.. I see a peace dividend coming up soon and a possible break of oil prices is in place, all this with $ strength will help US in importing price stability or disinflation, pits squared at 1305 but if I am short I will hate to go in numbers short so I expect that despite of pits going out of longs at 1305 if we see 1308 being taken out we will see a short squeeze to 1318.. On downside I think we may test 1295 but rebound or 2055 should hold only below 2045 I will trade to sell 2140's against my July calls. I have some calls established on SOX and INTC. On AMZN, I would like this trade...sell closer to the money Ost puts for say 110 strike collect 20 $, use it to buy 130 or 140's Oct, and purchase a long put of July 90 for may be 5$, if we break big 110 will work against us tick to tick being heavily in the money whereas out of money long put purchased for 5 will gather a lot ofp premium at DOT 490 one can leg out of July long and expecting a turn around expect AMXN to move up, if we don't see the down side and move up from here to 625 on DOT this long calls will be great and we loose premims on 110 near the money Oct puts and also the 5$ of July long. This is a cheap trade, work out and place it above DOT 575 nopt before or 2100 on NDX most preferably tomorrow. BKX will benefit themost if we have the rally tomorrow and will sel to 790 if we have higher hourly earnings, we can test 1250 if numbers disappoint and see 1330 if it is a good number. I expect market to test the top of this 1309 area and probe it today, if shorts ocver we move up. Otherwise we may be range bound between 1292 and 1309...