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To: reaper who wrote (201605)	11/4/2002 9:24:05 PM
From: orkrious	Respond to of 436258

Cramer agrees with Tom Brown on JPM. The kiss of death <g> J.P. Morgan's Rise Telegraphs a BKX Tumble By James J. Cramer 11/04/2002 04:19 PM EST Click here for more stories by James J. Cramer Like LUNT (my nickname for that dastardly duo of Lucent (LU:NYSE - news - commentary - research - analysis) and Nortel (NT:NYSE - news - commentary - research - analysis)), the worst of the banks is going up, too: J.P. Morgan (JPM:NYSE - news - commentary - research - analysis). Yes, the most troubled bank is roaring here, even as Wells Fargo (WFC:NYSE - news - commentary - research - analysis) is starting to come down. That's also what happens at the end of a move. You get the selloff in quality and the rally in the junk. This is not to say that J.P. Morgan isn't a viable entity here. The more I dig, the more I believe that Tom Brown is right and JPM is a survivor, if not a prosperer. I believe that because it is a huge beneficiary of any rate cuts and because I believe it is doing better of late in trading. And it's because the scandals seem to be, if not behind the firm, at least, recognized and "deal-able." Wells Fargo was the first bank to turn around in the BKX rally that started from the 620 level. The index came close to hitting 800 today. It is time for a pullback for that index. That's what WFC is saying. Don't overstay your welcome.