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To: Trader X who wrote (11266)	2/5/1998 1:18:00 AM
From: Andrew Vance	Respond to of 17305

AV -- the key isd making money and in my book, IPEC at about $14 to where it is today is a great profit also. SFAM is moving as well as IPEC but more importantly the ENABLING STOCKS are performing. I do not find it unusual that DUV (ASMLF, PLAB, DPMI, CYMI) have performed real well, Defect inspection (KLAC) is up at least 10%, Backend Testing for higher speed devices (TER), CMP providers (IPEC, SFAM) along with the other companies like ASYT. But really, all the sector is now abuzz. I am sitting on 6 stocks that the trigger is about to be pulled with 20%+ profits based on perfromance today and over the past few days. IOM-ADEX-AEIS-BORL-ATMI-IPEC are all real short term winners. ATMI is still a few days away from its Quarterly Conference Call. AEIS was bought in the low 12s and look at it today, up close to 14%. IOM will come close to 33% real soon. while ATMI is already over 30%. The sector is doing well but I am taking and protecting profits along the way. Cindy and I were talking today and we went over the $1 million portfolio. At one time it was down $200K which is an admission that I got into the portfolio a little premature. Based on the clsoing prices today, it is down less than $1000. this does not tell the whole story since we used margin to "average down" and in some cases doubled the original amounts. Based on a phone call to the "client", who will be getting the monthly statements we beleive we are up close to $150K after margin interest and some rotations. This means that we are already up close to 15% for the entire portfolio. SFAM was a homerun today, no ifs ands or buts. The name of the game is making money and SFAM made it faster today. But as long as we are all making money and not losing it, we need to look at the overall market and make sure they are not just paper profits. Andrew