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To: Riskmgmt who wrote (16360)	1/13/1998 9:54:00 PM
From: IQBAL LATIF	Respond to of 50167

Ray- I think Ray fundmanetals and big picture was clear- Was US going thru a meltdown like Indonesia? What is Indonesia GDP? What happens if Korea is wiped out from the face of this earth? These and some questions like this use to prompt me to take a contararian view-even when markets were down huge 11% in ASEA- if I am right or wrong only time will tell but presently may be we have to look forward to some real partying-lets hope. The ASEAN crisis is not out of woods yet- but I knew one thing that most of the finacial markets are not reading it right. I became convinced more and more but if I see a break of 937 in these conditions I will be a different Ike- Ray I think I look back and only think of one thing I never deviated from the fundamentals I knew it very well that this time around we will get INTC.

To: Riskmgmt who wrote (16360)	1/13/1998 10:10:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Ray-Off topic- My buddies Ray ( Rajan Bakshi/Karim) along with me agree that now that we have seen since Aug 1996 a tight band of S&P say btw 900 and 990 we collectively think that anyside this darn thing is going to break it will be a very violent break- now 1500 points break may take you to 6000 or 10000 the pick is yours- In last 20 years of my seperate and 67 years of our collective S&P experience(Wimble -kind of evade answer to this our third buddy) where we have most respecfully paid dues to the market- (the only way to pay dues is to loose six figures on a trade and your blood pressure remains within 140/95 range)gggg- we have seen this kind of configuration a lot of time - the last being what JT has correctly pointed SOX at 401- we expected a big move up we ended up with 40% down leg- it is between Aug and Jan this same kind of configuration- there is may be good news for bears and very bad news for bulls or other way around but we take the bet if we have two closes above 1000 that this break will be on the up- a 1500 point move we also call it a big bhumbo it has alluded us so many times but we keep going back to DOW taking out 1000 back in early days of our investment games- I remember it was painful but once we got out of the chains we were up 15-20%- Do we have a case here may be not for a 15 to 20 percent but 8-12% may be be and 1050 quite sure. However levels are not be falllen in love with and we will throw them once our key supports are going to break.