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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (30418)	1/11/2000 9:47:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

<<Paul LaMonica of SmartMoney.com says CS First Bostons analyst Michael Mayo?s ?Sell? calls back in April may have been merited, as all four of his picks, Citigroup (C), J.P. Morgan (JPM), Chase Manhattan (CMB) and Bank One (ONE) have gone down substantially this year. ?Personally, I think the worst for the bank group may soon be upon us,? says LaMonica. ?I think financial-services stocks do have a chance to rally this year, but probably not until it's clear that the Fed is done raising interest rates.? LaMonica says he thinks FleetBoston Financial (FBF) and Mellon Financial (MEL) are the most attractive in the sector right now, and interest rates and consolidation could make Wells Fargo (WFC), and Bank of America (BAC) and Citigroup ?ready to go hunting again.? Break below 720 will lead me to cut my positions on BKX.. but i will wait for a double break or 1442 single break.. >>

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