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Non-Tech : Credit Acceptance (CACC) -- Ignore unavailable to you. Want to Upgrade?

To: William Duncan who wrote (73)	1/29/1998 9:42:00 AM
From: 5,17,37,5,101,...	Read Replies (1) \| Respond to of 103

I believe a delay such as this, with no accompanying mollifying announcement, almost always leads to a stock price decline. However, this one was a little worse than usual because many other mortgage/loan companies have provided downward earnings surprises recently. The market obviously expects a disappointment. I really cannot think of a positive reason for the delay. That said, IMHO the previous move down from $20 to $5 was caused by expectations of very much lower results this quarter. The insider activity tells me extremely clearly that the move was over done. This delay announcement did not merit a retracement to $5. Jackson