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Microcap & Penny Stocks : Rat dog micro-cap picks... -- Ignore unavailable to you. Want to Upgrade?

To: ~digs who wrote (14536)	10/10/2003 8:02:25 PM
From: ~digs	Read Replies (1) \| Respond to of 48461

WFC closing price = new all time high stockcharts.com[w,a]waclyiay[pc40!c200!f][vc60][iut!Ul14!Uk14]&pref=G A big third-quarter story was the sharp, sudden interest rate rise in July, after the Federal Reserve disappointed some investors in June by cutting its rates just 0.25 percentage point. Bank rates bottomed in June at 45-year lows. Fed officials have taken pains to say they will keep rates low for a considerable period. Some investors, however, expect a strengthening economy to lead to higher rates sooner rather than later. Bond prices fall as rates rise. Rising rates have cut demand for mortgage refinancings by more than half from May, the Mortgage Bankers Association said. The pain should be more evident in the fourth quarter because banks had a significant backlog of business last quarter. "Everyone under the sun knows that mortgages will continue to soften into the beginning of 2004," said Michael Holton, who runs the $330 million T. Rowe Price Financial Services Fund. "It is likely that some smaller regional banks have seen outsized amounts of mortgage income flow to the bottom line, and these might have tougher growth prospects going forward." National City (NCC) last month said its 2003 profits would fall about 11 percent below analysts' forecasts, after home refinancings fell 60 percent in July and August. biz.yahoo.com 30yr T-bond, weekly bars.. stockcharts.com[w,a]waclynay[pc40!c200!f][iut!Ul14!Uk14]&pref=G