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To: Sharck who wrote (1129)7/26/2002 7:34:33 AM
From: MarketEye  Read Replies (1) | Respond to of 1854
 
A congressional committee agreed last night on how to reconcile the House and Senate versions of an updated bankruptcy bill.

This will be viewed as positive for credit card companies, and comes at a time when these companies have been whacked on fear.

Capital One (COF) was recently severely whacked when a new government edict required higher reserves against loss from default. Thew new reconciled bill, which Bush previously said he would sign, makes more bankrupts pay back on cards..even after filing.

The entire credit card industry group seems like a real steal here..especially with fear from C and JPM already in the air.. I;m making several buys in this group. The primary stocks here are COF, HI, KRB and PVN.

Also watch auto lenders ACF and NCEN.

Bruce
www.masterclasstraders.com