Larry Berman CFA, CMT, CTA HOLDRs Software E.T.F. SWH-N PAST TOP PICK May 11, 2005

(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.

Larry Berman CFA, CMT, CTA

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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.

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Larry Berman CFA, CMT, CTA HOLDRs Software E.T.F. SWH-N PAST TOP PICK May 11, 2005

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