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Non-Tech : MBNA (KRB)
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To: Barbara Hospel who wrote (115)10/26/2000 1:46:29 PM
From: robert marshall  Read Replies (1) of 119
 
MSDW just told investors to take profits in credit card companies. Projects more bankruptcies as economy slows down. Result is big drop in stock price today. More than likely price will drop to 30 or below. I shorted at 38 will cover at 30. This stock was due for a haircut it had gone up to fast lately, especially with the 40 million shares sold by Goldman Sacks at 32 1/2 to cover purchase of credit card debt company brought this year. I thought it would languish in the 32 1/2 area with that many shares to be sold but quite to my surprise rose to 38 -- now it is haircut time.
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