We are already for a single day in a new range breaking 1128. I am very optimistic on global things, the economy is going to shun the negative impacts and move on. As promised after fall of Kabul my 'self imposed purdah' from market is over. That is good news for me. I like VOD after this huge write off for long term. In my opinion 1155 is the next target...Nice for me to be writing about markets before 17th, I wish we have a good career in markets after 11th Sept, our projections were derailed, although we have moved above that 1080 that I expected to hold, however my opinion is that US economy is going to survive this bout of consumer downturn. I will like oil to be down for next 12 months to create the kind of non-inflationary, low interest rate environment that was a hallmark of 1997-1999 move. OPEC help is as important as monetary policy of US, by the way the war against terrorism is not going to cost 100 billion $, rather Russia US new-detente and China new entry to WTO, may rather bring that missing link into play that was somewhat worrying in context of global economy. New Russia as a global partner is far more important than the loss the world made on Osama entry as a global miscreant terrorist. I feel good to write about the markets so soon after this massive crisis.
Iqbal Latif
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