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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (118425)	12/7/2000 12:51:39 PM
From: Lane Hall-Witt	Respond to of 120523

Dave: On a trading basis, I find it hard to get negative on the financials with the astonishing strength they've shown and the expectation of good news from the Fed (FOMC meeting December 19). The market is just kind of hard-wired to see a friendly Fed as especially good for lenders. The strength in the financials is a mystery to me, since I think the economic risks are high right now; but it's hard to argue with what the tape has been saying. Two other financials to watch for signals on the lenders, IMO, are CMB and CF. Everyone knows CMB has risk on its balance sheet, so it'll price in increases in macro fear quickly. CF has heavy exposure to the consumer credit markets and has been a rock all year.