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To: Eric Maggard who wrote (21122)	10/30/1998 2:58:00 AM
From: IQBAL LATIF	of 50161

Eric- Thanks for asking this question-- how do you know about liquidity problems in the market? When I talk about liquidity problem I am not at all referring to equities rather to bond market, the first sign of liquidity crisis is that the interest spreads between lower rated companies what they have to pay and higher rasted blue chip widens sharply, this brings credit markets to a halt. Once tapping of bond markets become difficult we see that this divergence of rates makes swaps very dear, the leverage buy outs and mergers acquisitions along with corporate credit moves the markets forward if that dries down we get into problem, I think that new paradigm of economy new test would be if we still be able to keep the interest rates lower and we see key inflation indexes remain docile. Equity markets sell off has a strong bearing on continued divergence of these yields as right issues and many other take overs have this price of stock a critical element, amongst other things in the market Fed does keep an eye on these divergences and like to see a convergence for an efficient market.. As interest rates are cut and hedge funds the volatile force behind the markets disappear with huge losses we will see that convergence possible it is happening right now in front of us the break of bonds from 135, we had seen that some of these bonds had moved up and the spread between a high yielding Junk and TB had become as high as 800 basis point, that is now converging so is Italian and German Bund.. If Jonh Merriwether positions were allowed to be continued right now he would be making a lot of money but the problem is that without John Merriwether positions we would have not seen bonds at 135, however we had this first close above 10,000 on HSI.. I was wondering if hedge funds have lost their desire to short- the market just have bulldozed these exotic bet takers, like it has done on my small little SI..gg

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To: oexplayer who wrote (21121)	10/30/1998 3:08:00 AM
From: IQBAL LATIF	of 50161

A double close above 1080 as I have said when we were at bottom near 970 would take us to 1130, my recent Bhumbo history will be followed and we will see SOX at 292 if thast happens the first major resistance on SOX is 275, but the way things look we may take it out but this is the area SOX has failed many times however never armed with great earnings SOX had this year, I know MU looks expensive here ast 40 but I have seen this being touted as great short at 15 and so was INTC, for me market exceeds both sides if you are long you may well see your levels the put premiums on Nov puts have just dissappeared, so it is a very expensive hobby to dabble with short positions - yes I know our perpetual heroes they do it all the time on this SI but I tell you I have been sent a compilation of 'posts of shame' and I can tell you that it would be fun reading the gurus three weeks before and two weeks after 26th July 96 DOW at 5550 28th Oct 97 DOW at 6990 and 8th Oct 98 DOW at 7330- the script remains the same, by the time they are long bhumbo is always through them.ggg

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To: IQBAL LATIF who wrote (21120)	10/30/1998 3:15:00 AM
From: IQBAL LATIF	of 50161

Thursday, Oct 29 1998 4:11AM ET Reply # of 21125 I stick with my level of 1714 on composite if we go thru that we may see a small resistance on 1700 support we may see 1680 retested, if 1055 is tested we may see a nice bounce up, on the up SOX 262 is the reistance and 1755 remains a legitimate area of concern for long trades I would like that to be taken out before going for that 1130 trade, we may see a first reistance at 1092 full 20 points from here.. What a difference 24 hours can make most of the resistances in the post above were taken out yesterday, 262 on SOX 1092 on SOZ and 1755 on composite..Loking back , now ALA a stock we went long looking good.. as are all the other stocks, but today I will like this 1080 close to be legitimise and rather 1118 area to be taken out, on SOX we need to stay above 263 for this developing trend to continue and of course now the composite prepares for its assault of 1810 however most important to watch wil be Bovespa and BKX-- this market configuration is Bovespa sensitive right now and also BKX weakness will seep in.. For me 730 is important level like I highlighted yesterday and sanctity of this level is most important..

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To: IQBAL LATIF who wrote (21114)	10/30/1998 3:27:00 AM
From: IQBAL LATIF	of 50161

A timely call on SOX-- and BKX-- Thursday, Oct 29 1998 10:11AM ET Reply # of 21126 I have my own reservations on DOW old highs I would think that composite old highs will meet DOW at 10,000. So we can see a lot of rally, as I right now see an apparent break out in SOX, a double bottom and a 20 days MA crossing over 50 days a sure sign of a two to three months of strong rally in SOX, I will like to bet on Jan 300 even selling 220's and cover them break of 245-- for conservative accounts they can wait for 1755 or 1080--- I addthis chart with my chart of $ weakeness and associate $ weakeness with techs, the only thing I see we go higher, unless some fundamental news derail the market, so one hand I am watching BKX for a decisive move above 730 on the other I am looking at a break of 710 and 690 if that happens we wil see every thing in a downturn until 1055 or 1680 holds so we have whole range of movements here to watch and we are trying our best to do it right..

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To: IQBAL LATIF who wrote (21126)	10/30/1998 6:33:00 AM
From: IQBAL LATIF	of 50161

HMO's alert-- Volume alert and some sign of life--FHS ia my preferred stock amongst all of these-- Medical - HMO (1-20 of 26) ordered by Volume Symbol Last Change %Change High Low Volume Vol %Change Year Low Year High %Off High FHS 11 7/16 1 7/16 14.38% 11 3/4 10 6,085,900 1,445.36% 5 7/8 32 5/8 64.94 OXHP 11 1/4 2 5/16 25.87% 11 1/2 8 13/16 5,524,400 170.94% 5 13/16 28 1/2 60.53 UNH 41 1/8 4 10.77% 41 5/8 37 1/2 2,551,700 94.20% 29 9/16 73 15/16 44.38 HUM 18 1/8 1 3/4 10.69% 18 5/8 16 13/16 2,273,200 183.85% 12 1/4 32 1/8 43.58 MDM 3 3/4 1/16 1.69% 4 3 1/2 1,889,300 78.44% 1 5/16 32 88.28 PHSYB 74 3/4 5 3/4 8.33% 76 3/4 67 3/4 1,647,300 211.06% 49 93 1/4 19.84 WLP 71 15/16 9 11/16 15.56% 73 1/2 66 3/4 1,175,700 386.98% 38 5/8 75 4.08 AET 71 4 7/8 7.37% 71 3/8 66 1/2 1,158,800 53.86% 60 3/16 89 3/8 20.56 PPH 7/8 -3/16 -17.65% 1 1/16 3/4 565,100 343.82% 3/4 17 15/16 95.12 CVTY 8 3/4 1 12.90% 9 1/16 7 1/2 332,600 -18.24% 3 7/8 19 1/4 54.55 TGH 34 1/2 1 7/8 5.75% 34 5/8 32 1/4 246,400 70.04% 21 1/2 37 3/8 7.69 MME 7 7/16 11/16 10.19% 7 9/16 6 9/16 123,900 -33.43% 4 7/16 15 3/8 51.63 PHSYA 68 1/2 4 1/4 6.61% 70 5/8 62 1/2 109,000 53.12% 46 3/4 88 7/8 22.93 MAXI 4 3/4 3/4 18.75% 4 3/4 4 70,100 -16.62% 2 5/8 14 1/2 67.24 UWZ 7 7/8 -1/8 -1.56% 8 7 5/8 58,900 97.29% 4 13/16 34 76.84 SIE 22 5/8 1 1/16 4.93% 22 5/8 21 3/8 56,500 -19.26% 15 7/8 27 37/64 17.98 CPDN 12 1/16 -1/16 -0.52% 12 3/8 12 46,800 -54.82% 9 22 3/4 46.98 WELL 1 3/64 11/64 21.37% 1 3/64 43/64 41,300 40.32% 1/4 937 99.89 SFGD 5 -1/8 -2.44% 5 1/4 4 3/4 20,400 123.24% 3 5/8 14 1/8 64.60 UAH 1 1/4 0 0.00% 1 1/4 1 1/8 19,300 -23.49% 3/4 4 68.75 Medical - HMO (21-26 of 26) ordered by Volume Symbol Last Change %Change High Low Volume Vol %Change Year Low Year High %Off High RIT 9 1/4 1/8 1.37% 9 1/4 9 1/4 2,300 -81.21% 8 3/8 13 1/8 29.52 PHSB 13 3/4 1/2 3.77% 13 3/4 13 1/2 1,100 -57.12% 11 23 1/4 40.86 MCSX 4 1/2 1/4 5.88% 4 1/2 4 1/8 200 -98.35% 2 3/8 9 1/2 52.63 HPWR 2 7/8 0 0.00% 2 7/8 2 7/8 0 -100.00% 2 1/2 10 71.25 ICEL 13 3/4 0 0.00% 13 3/4 13 3/4 0 -100.00% 13 3/4 13 3/4 0.00 PHSV 28 3/8 0 0.00% 28 3/8 28 3/8 0 -100.00% 25 3/8 28 3/8 0.00

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To: IQBAL LATIF who wrote (21125)	10/30/1998 7:05:00 AM
From: IQBAL LATIF	of 50161

A new idea -- what so big about 13 days crossing above 50 days on most of the indexes.. If you note carefully from feb 98 we had this big move of this market we had similar configuration of 13 days EMA coming from the bottom and taking out the 50 days EMA, so is this DOW situation and SPZ situation where we see a similar move now an indicator of a big move up like Feb 98 move.. No my research tells me that S&P only pierced 50 days EMA in mid Aug during this bear correction, also NDX.X corrected and only piereced the 50 days EMA in mid Aug, if you look at other indexes we did see this Rut SOX Composite going thru a correction in JUne and Nuly and coming back up in mid July sjhowing a similar configuration which showed a 13 days EMA taking out 50 days EMA, the only difference is that SPZ AND NDX.X never went thru this correction in June and July they stayed above the moving averages that would have given a signal of a melt down, nowthis is the first time we have seen after SPZ and NDX.X going thru the correction which led to 13 days EMA below 50 days EMA now crossing paths, the only outstanding piece which should give this move the first after Feb 98 uniqueness is that RUT should take out that 13 days and 50 days cross, the result of my discussion is that we cannot predict a market melt down unless SPZ and NDX.X gives away like wise June and July corrections were basically traps once we had this SPZ broke the ma's we saw severe selling, now we need to go higher although every thing looks in place but the remaining jig saw to fit in to give a longterm buy signal would be RUT 13 days crossing path with 50 days .. this will than be equivalent of the feb move in 98.. undoubtedly in terms of number of indexes taking and flashing out a bull signal I would think RUT is finally going to lead this market higher, I would also expect that small caps will be the leaders in 99... I was looking at some GS research accordingto them the out look of small caps is most astounding this year small caps have given a return of -36% so far next year we may see a return much much higher from this base, I don't wont to quote the levels but for me that makes sense.. >X

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To: IQBAL LATIF who wrote (21128)	10/30/1998 8:58:00 AM
From: IQBAL LATIF	of 50161

On continuation of previous post one important signal on the long side is emanating from 200 MA- if we see S&P and OEX we will find that the former has nearly two days ago taken out the 200 days MA also the later that is S&P has been consistently softening the 200 days MA and had the first close above it yesterday, depending on today if we hace this move up where I see RUT heading to 402 I would think we should have a good run to my first resistance, based on twin breaks of 200 days MA it is if we have a double close today above 200 days MA on S&P the DOW 200 days MA becomes a matter of formality, although I would think that IBm has run a great deal from where I predicted a buy 111, I would still think it would be just plain foolish for me to take profits in a stock making news highs although I have moved my stop up to 143 break below that I will cash on IBM expecting to reenter at lower level - however right now DOW looks to take out 200 days MA on grounds of suppoting broad move, this is exactly in line of what I said about this move a move which is broad and DOW is the last to break the 200 days MA if it does today, if it does not I think we will see a consolidation phase between 1049- 1092 area-- a very pertinent cardon going back to my bhumbo 1 move from 990 to 1130..

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