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To: Mason Barge who wrote (30)	12/11/1997 4:35:00 PM
From: Mason Barge	Read Replies (2) \| Respond to of 50

12/11/97 Index 55.5% (1110) Down 11% (143 pts) No big winners. All issues down 5 to 10% except: KLIC -27%; CMOS -18%; LRCX -16%; ASYT -17% AMAT -14%; SFAM -15%; TER -11%; Brooks -11% Merrill Lynch downgraded most of these issues this pm, mostly into the accumulate and neutral categories. Most big houses are still thinking about it. More downgrades might hit the sector again. I know they are looking cheap, but be careful out there. Symbol Shares Last/NAV Change Pur.Price Gain/Loss Value AMAT 4.08 27 5/16 -4 7/16 49 -88.49 111.44 ASMLF 1.03 58 3/8 -5 13/16 97 -39.78 60.13 ASYT 2.78 23 3/32 -4 21/32 36 -35.88 64.20 BRKS 2.50 14 15/16 -1 15/16 40 -62.66 37.34 CMOS 2.27 20 3/8 -4 3/8 44 -53.63 46.25 COHU 1.96 32 -2 5/8 51 -37.24 62.72 CYMI 3.22 17 -1 7/16 31 -45.08 54.74 EGLS 4.00 14 15/16 -1 1/8 25 -40.25 59.75 HELX 3.44 19 7/8 -1 1/8 29 -31.39 68.37 KLAC 1.32 36 1/4 -3 1/16 76 -52.47 47.85 KLIC 2.74 18 1/8 -6 3/4 36 1/2 -50.35 49.66 LRCX 2.38 26 -5 1/8 42 -38.08 61.88 NVLS 1.61 30 13/16 -2 9/16 62 -50.21 49.61 PRIA 1.92 28 1/2 -3 1/4 52 -45.12 54.72 SFAM 1.69 20 3/8 -3 1/2 59 -65.28 34.43 SMTL 5.00 13 -1 1/8 20 -35.00 65.00 SVGI 3.03 21 5/16 -1 1/4 33 -35.41 64.58 TER 1.79 30 3/16 -3 13/16 56 -46.20 54.04 UTEK 3.03 20 15/16 -2 33 -36.55 63.44 Total -889.07 1,110.14

To: Mason Barge who wrote (30)	12/12/1997 7:59:00 PM
From: Yakov Lurye	Read Replies (1) \| Respond to of 50

Mason, after some soul-searching yesterday (actually early AM today)I'd finally decided to go with the flow. I had closed all my semi-equip positions except TER and CYMI around 9:45AM, the moment SOX started falling. Saved me some money, considering the closing numbers. I am going to keep TER and CYMI, but I find your decision to move out of the sector fully understandable and well reasoned. My obstinacy with adding long positions through the SOX downtrend did not hurt me - that is, my account balance is exactly the same as a month ago - but it ate away all my daytrading profits. My main assumption in expanding into additional semi-equips was the belief that SOX will not fall below 278 level that repeatedly provided support through Oct-Nov. Now I will have to reassess my plan. Luckily for me, I have been fairly successful using real-time SOX data as a predictor for semi-equips short-term. This did help me to minimize the damage yesterday (although it took me about 15-20 minutes to make sure SOX is not going to reverse). Meanwhile, I was really touched today checking my e-mail (didn't look at it yesterday) and getting your yesterday's morning warning. I'd seen your warning posts on CYMI thread and find it upsetting that instead of acknowledging your good intents, some people choose to attack you. Regards, Y.