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To: Al Serrao who wrote (16912)	2/6/1998 11:38:00 AM
From: Lee	Respond to of 50167

Al, **Off Topic** Earth disturbance in Afghanistan. Early report attached. Links could be disrupted depending on the extent and location. abcnews.com Lee

To: Al Serrao who wrote (16912)	2/6/1998 10:10:00 PM
From: IQBAL LATIF	Respond to of 50167

I think we will see chip makers and semis in new virgin territory for this move that is above 314 on SOX soon- please notice the inter-relation ship of chip and semis- INTC has made such a big move in 14 days that all of those who were intending to short it at 70 and thought that INTC and TXN higher levels are thing of past or lightly wishful thinking need to cover soon- where I don't know but for me as I wrote yesterday a close below 301 was not a good sign but like 11 Nov close below 900 was a false signal this close of day before yesterday was false- I did trade this move on break of 301 -sold March 320 and bought 290 for March but seeing yesterday the way DOW and SP was behaving I covered the call a small profit and covered my put on break of 301 that took me 4 hours wait as SOX was refusing to go above and close above 301 byr finally around 2 EST we saw SOX breaking the 301 got covered and went long on SOX over the weekend. I think range is great opportunity to trade for me 980 1020 area unless broken will define a band, I still don't see too much of short covering however in context of what you say I think a consolidation phase is right now in progree once completed I will think we break 320 I will cut my long positioins on TXN and INTC on break of 52 and 82- for me these stocks coming a closing below these levels would mean problem continuing for atleast another quarter. However I feel strongly that these levels will not be violated on closing basis and I see test of 294 yesterday as good test of support of 292- please watch for this support on 292 very closely- if violated this will herald overall softness in semis as well as chips- even I see SP inability to run beyond 1020 if SOX DDX NWX OSX fail to show break of critical resistances- SP run from here based on HFX will be unsustainable for me for this run to survive I need my composite taking out new highs and depressedsectors to get going.