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To: fooledalot who wrote (5385)	12/14/1999 12:04:00 PM
From: Mao II	Respond to of 12662

f: More the latter in the face of the former, I think. SOX has had a tremendous run, one of the greatest. ANd it is not over. Right now I am out of all trading positions in semis, but I am looking to re-enter selected issues on significant weakness. I do think, short term, that ISSI has a chance to run a bit right now; MU reports next week and we could see a bit of sympathy there. M2

To: fooledalot who wrote (5385)	12/14/1999 12:17:00 PM
From: Mao II	Read Replies (1) \| Respond to of 12662

f: I should have mentioned in my last post the most troubling of all factors: interest rates. The bond-pit ghouls are after the blood of the living again today. Rates are ignored at your peril, as ridiculous as their levels may seem to a rational human being. So for semis to have another sustained leg up one of two things has to happen: semis drop to attractive levels with interest rates in the 6.2-6.3 levels -- thus setting the stage for another equity advance. OR interest rates fall to the lower end of the range at 6 or -- better yet, and more reasonable, in my view -- below the 6 level. M2