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To: Giordano Bruno who wrote (250539)	7/16/2003 4:39:41 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Yeah...they jumped a few weeks back when they preannounced, so it figures it would get sold. They've ballooned their balance sheet, and it's gonna hit 'em and probably soon, IMO. This pretty much accounts for all of their EPS increase: Marketing expenses for the second quarter of 2003 increased $28.9 million to $270.6 million from $241.7 million in the first quarter. Marketing expenses were $320.4 million in the comparable period of the prior year. In addition, net income is down compared with last quarter, and margins are declining (since their borrowing rates can't go down much further). They've had it as good as it gets, and I think it gets much tougher from here on out. If they don't get hammered too badly, I may add some leap poots tomorrow. One last point....delinquencies are still rising, though they're not yet charging off more loans. That's a potential problem for the quarters to come, IMO. Reaper, if yer out there, would appreciate your take as well. EDIT2: LOL, they've given up all of today's (huge) gains after hours!