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

To: Zeev Hed who wrote (21357)	7/24/2001 3:05:49 PM
From: Jdaasoc	Read Replies (1) \| Respond to of 30051

Zeev: I expect a mild bounce from here into the close I am looking at BKX chart. Most components of bank index just starting trading below 50 MA like in Feb. I think banking sector will put max pain pressure on overall market in near term to give AG grounds for more than single 25 pt cut in AUG. If companies like NT and LU are holding out their hands to banking sector for tens of billions in additional bridge financing, someone's going to have to lower cost of money to the limit IMO. john