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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

-0.5%

Dec 1 4:00 PM EST

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To: Fun-da-Mental#1 who wrote (23792)	8/25/1999 2:39:00 PM
From: Zardoz	Read Replies (1) of 99985

IMO the Bank One drop is a pivotal event since it indicates the beginning of a credit crunch. And yet others banks have set record earnings beating the analysists yet again. Bank one problems may be more internal then external... not that I care about Bank One. Hutch cbs.marketwatch.com Bank One attributed its woes to operational issues, but also cited industry conditions. The bank's Tuesday warning on slowing growth "was really not a new issue in the credit card industry," Yates said. "Unless there's something behind the scene we're not seeing in receivables, there's no doubt they are slowing."

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