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To: Carl Worth who wrote (19857)	10/15/2004 1:20:50 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78625

Almost all the bank/financials/insurers I'm following were down today. Many by multipoints. OUCH! I added once again to my position in Massachusetts auto insurer CGI. finance.yahoo.com I figure they're a straight-forward, mostly auto insurer and shouldn't be affected by Mr. Spitzer's probes. (OTOH while they certainly can be affected by what the Massachusetts legislature might do in future regarding the state's auto insurance requirements, I don't see that as a looming issue.)

To: Carl Worth who wrote (19857)	10/16/2004 8:22:45 AM
From: Larry S.	Read Replies (1) \| Respond to of 78625

CArl, this charge was reported on CNBC Friday too. that there was a lot of selling of the financials ETFs. Now, I understand that if the financial ETFs own financial and insurance stocks, they will go down because of the lower pricing of the stocks that make up the index (ETF). But why would that selling of the ETFS cause pressure itself on the underlying stocks? I thought ETFs were like closed end funds, a finite number of shares were issues and traders/investors bought or sold each others shares? am i missing something? tia. larry