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To: Condor who wrote (37151)	3/13/2001 2:55:16 AM
From: IQBAL LATIF	Respond to of 50167

This selling stopped at 1180 on NAZ this was the top on two occasions in 98,I would think that Fed would not cut very steeply even in face of this selling. Recession in technology is limited to technology and the other parts of economy are not doing that bad, although a 500 point drop on DOW sound as bad as 1987 but that was a 22% yesterday was 2%, no dbout the picture is bad when you look at NAZ 63% drop from its highs..I expect that 1180 area today would hold and we will see some decent move..look at decliners to advancing shares the ratio dropeed to near 7 to 1, I would think that at some point in time people like me have to get out of bonds and cash to buy, I will not go to zero or leverage but from here MCHP SLR palm arba emc nok elnt intc gx mlnm lltc sunw plus IIX 200 calls will deserve a hard look if we hold this level today..