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To: NOW who wrote (55273)10/3/2002 1:40:53 PM
From: Paul Shread  Respond to of 209892
 
Here's Greg's take -g-:

11:01 ET Sector Watch: Banking : Sector index (BKX at 670 -3.1%) is on the defensive again with the warning from BK -10.4% triggering the slump. Also down substantially today are: NTRS -7.4%, PNC -6.7%, MEL -5.6%, FBF -5.4%, ZION -5.1%, KEY -4.8% and USB -4.4%. The index is testing a support at 671 with the two month low from Sep at 668. The Regional Bank HOLDR (RKH at 96.70 -3.4%) has already breached its Sep low. Takes a push through 98.4 and 101 to neutralize the negative bias. Next support is near 95.



To: NOW who wrote (55273)10/3/2002 1:42:50 PM
From: bcrafty  Respond to of 209892
 
BoNY apparently did it

BoNY = Bank of New York

From cbsmarketwatch,

Banks stocks took a hit, stung by a warning late Wednesday from Bank of New York. Shares of Bank of New York were down just over 10 percent. Checking the Dow's financial components, American Express lost 2 percent, Citi forfeited 2.2 percent and J.P. Morgan gave up 1.2 percent.


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