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To: Cactus Jack who wrote (6463)	9/16/2002 10:35:15 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

USdollar beginning to resemble gold in July (topped out) stockcharts.com[h,a]daclyyay[dc][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G daily stochastix seems ready to roll over (top chart) 20dayMA seems ready to roll over and cross 50MA a triple top, just like gold in July fundamentals for USdollar (fed deficits, trade gaps) worsening / jim

To: Cactus Jack who wrote (6463)	9/16/2002 10:57:15 AM
From: Jim Willie CB	Respond to of 89467

JPMorgan ruling pressures financials By Greg Morcroft, CBS.MarketWatch.com Last Update: 10:43 AM ET Sept. 16, 2002 NEW YORK (CBS.MW) - J.P. Morgan shares fell Monday after a judge dismissed the bank's fraud claims against several insurers, guaranteeing that the dispute will now move to a jury trial for resolution and possibly costing the company close to $1 billion. The dispute hinges on whether several trades between the bank and Enron-related entities were legitimate commodities trades, or as alleged by the insurers, fraudulently concealed loans. The Amex Securities Broker/Dealer Index ($XBD: news, chart) slipped 07 percent, and the Philadelphia Bank Sector Index ($BKX: news, chart) surrendered 1.2 percent. Analyst Brock Vandervliet at Lehman Bros. said the dismissal was a "significant setback," for Morgan and may "wipe out a full quarter of earnings" since the company didn't appear to set aside any reserves for the losses. He reiterated his "equal weight" rating, saying he saw no catalyst for the shares despite low valuation. J.P. Morgan (JPM: news, chart) shares surrendered $1.04, or 4.7 percent in pre-open trading. Citigroup (C: news, chart) shares also fell 1 percent, or 28 cents to $29.10. The nation's largest financial institutions is involved in similar litigation with its insurers. Refinancings hurt some mortgage sector players MGIC Investment (MTG: news, chart) dropped $6.40, or 11.6 percent to $48.83 after the company indicated late Friday that third and fourth quarter earnings would fall short of consensus analyst expectations due to higher expenses resulting from continued refinancing and higher loan delinquencies. The company added that homeowner defaults may increase as the domestic economy deteriorates. PMI Group (PMI: news, chart) , which provides mortgage insurance for homeowners with low equity stake in the their houses, saw its shares fall $2.77, or 8.7 percent to $28.96 despite reaffirming its earlier earnings outlook. Greg Morcroft is New York news editor of CBS.MarketWatch.com.