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To: Sarmad Y. Hermiz who wrote (105069)	6/18/2000 10:36:00 AM
From: H James Morris	Respond to of 164684

>Even in SV. My bank stocks went down 20% in 3 days Sarmad, Bank stocks are out of favor and that's why I have puts on the Bkx. >Wachovia's announcement Thursday echoed several warnings issued earlier this year by the Fed, which told bankers that it feared creeping credit-quality problems. There is evidence that banks responded by tightening lending standards, yet some pockets of risk remain. Credit cards may be one of them. Christopher Low, chief economist at First Tennessee Capital Markets, said there has been a "phenomenal" increase in credit-card debt since around last Thanksgiving, as if consumers had run out of cash but were reluctant to end their spending spree. Many people may have been confident that they could cover their credit card bills with stock market gains--a bad bet if they were heavily invested in technology stocks. A worse-than-expected slowdown could cause problems for big credit card lenders, particularly those that have competed aggressively for market share by extending credit to younger and riskier customers.

To: Sarmad Y. Hermiz who wrote (105069)	6/18/2000 10:59:00 AM
From: H James Morris	Read Replies (2) \| Respond to of 164684

>I'm still waiting for the new economy wreck, but Glenn tells me it won't happen. I agree with Glenn, but one has to ascertain what is a new economy stock, and what isn't. How do you differentiate the difference?