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To: R. Gates who wrote (3464)	9/28/1998 1:41:00 PM
From: SJS	Respond to of 14427

Gold made a nice comeback today. I'm waiting for the OEX to crack...

To: R. Gates who wrote (3464)	9/28/1998 1:59:00 PM
From: SJS	Respond to of 14427

Early talk this morning was .75!!! What've they been drinking!! ______________________ 13:35 ET Banks and Fed Sensitive Stocks --UPDATE--: Bank and interest sensitive stocks are well off their highs and many are lower: Citicorp (CCI) -1, JP Morgan (JPM) -1/16, Fannie Mae (FNM) +9/16. That early talk that the Fed might ease as much as 75 basis points (3/4%) is giving way to realization that 50 basis points is most that can be expected, and even that is not certain. As market goes into Fed watch ahead of the policy announcement tomorrow, possibility of just a 25 basis point cut could have impact. Briefing views it as a toss-up between whether they go 25 or 50 basis points, but the risk is if a 50 basis point move is fully priced in and it doesn't happen.