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To: Mark Fowler who wrote (131040)	9/8/2001 7:18:21 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Mark, what did I tell you before I left for NYC?? SHORT PVN,then look at MXT,COF! 06:52 ET Credit Card Issuers : WSJ article cautions that an acceleration in credit card write-offs could be the next shoe to drop in the consumer financial services segment. While large credit-issuing banks such as C and ONE may be able to weather a serious downturn, big speciality credit card lenders such as Metris (MXT), Providian (PVN), and Capital One (COF) could face trouble. siliconinvestor.com siliconinvestor.com siliconinvestor.com

To: Mark Fowler who wrote (131040)	9/9/2001 4:30:28 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Hey MoMo Mark$. I think there's still some MoMo left to the downside with regional banks. Bank stocks were among the worst performers. The S&P regional banks index had the biggest decline among the S&P 500's 87 industry groups. All 23 members declined. Bank of New York Co. fell 9.3 percent, PNC Financial Services Group lost 9.7 percent and SouthTrust Corp. slid 9.5 percent. "Banks are not recession-proof," said Michael Stead, chief investment officer for the $750 million SIFE Trust Fund in Walnut Creek. Stead's fund has lost 5.5 percent this year, while the Philadelphia KBW Banks Index has fallen 10 percent. The concern over banks, as with the economy generally, comes down to how resilient the consumer will be, Stead said. "You've seen an increase in personal bankruptcies and delays in mortgage payments," he said. "It's small, so far. But you've got to ask yourself how long can the consumer keep things going." Regional banks are likely to be hurt when consumers feel the pinch from a slowing economy and have trouble paying credit cards and loans