Larry Berman CFA, CMT, CTA HOLDRs Software E.T.F. SWH-N TOP PICK Dec 15, 2004

All 3 Top Picks are in technology based on his theme that technology will be outperforming. Graph shows quite a strong performance and thinks that will continue. Has about 15/20% upside on it.

Larry Berman CFA, CMT, CTA

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$40.540

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(A Top Pick Dec 15/04. Down 15%.) Was very close to the high at the time it was picked and there was nothing left.

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Larry Berman CFA, CMT, CTA HOLDRs Software E.T.F. SWH-N TOP PICK Dec 15, 2004

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