Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jdaasoc who wrote (11369)	2/20/2001 3:34:54 PM
From: Bosco	Respond to of 30051

Hi John - maybe it is b/c of the following. From CBS MW Financials getting clipped --2:46 pm - By Tomi Kilgore Strategist Thomas Galvin at CS First Boston said he was cutting his "overweight" position on the financial sector, relative to the S&P 500 ($SPX: news, msgs) benchmark, to 4 percent from 10 percent. He concluded from the CSFB Financial Services Conference held in Phoenix last week that that clients "aren't going to put a lost of fresh money to work buying broadly in the financial sector," and will choose to be more selective. The Amex Securities Broker/Dealer index ($XBD: news, msgs) is down 4.5 percent and the PHLX Bank index ($BKX: news, msgs) is 3.2 percent lower. Among some of the more active stocks in the sector, Citigroup (C: news, msgs) is losing $2.55 to $51.45, J.P. Morgan Chase (JPM: news, msgs) is shedding $1.93 to $50.06, Merrill Lynch (MER: news, msgs) is giving up $3.80 to $63.10 and Lehman Bros. (LEH: news, msgs) is dropping $5.64 to $73.50. Galvin said, however, that the overall mood of investors at the conference was constructive. He added exposure to the sector is still warranted, as "attractive investment opportunities" still exist. best, Bosco