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TREND1

12/08/04 6:08 PM

#332068 RE: Zeev Hed #331996

***SMH UPDATE for 12/8/04
(1)ALTR and XLNX mid Quarter Updated
reduced expected revenue for this Quarter.
(2)SMH fell to low of 32.20 in after hours.
(3)If SMH trades near 32 on Thursday, then
a complete review of the Aug-Sep 2004 Up
Trend will have to be looked at again.
(4)Thursday after the close has NSM reporting also.