LVS is up today.. having a tough time deciding if i should take 15% or just wait until the end of the month! edit: just took the profits. figure this market is gonna come back down...there's no way this is the end (but i don't know enough to say that with certainty...just doesn't seem like the end is already here)
barney frank just said he expects the uptick rule to be reinstated within a month. lol what a joke....our govt solving problems.
http://online.wsj.com/article/BT-CO-20090310-711382.html?mod=rss_Global_Stocks The Dow Jones Industrial Average jumped 265 points, or 4.1%, to 6,812. Gains were paced by shares of Citigroup, which jumped 27% as CEO Vikram Pandit, in an internal memo, said the company was profitable during the first two months of the year, before taxes and set-aside for problem loans. I find it pretty funny what pandit said.
I have shares of C. Trying to decide if I should jump on the profits now or if this has a chance to hit 2 dollars.
What are the negative ramifications of reinstating this rule? What were the reasons for removing it originally - I don't remember anything other than that they decided it had little effect in "normal" market conditions.
From what I remember it was removed because it was basically deemed not necessary to prevent shorters from manipulating the market. During this market crash a lot of people believed that since the rule no longer was there, shorts were allowed to pound the hell out of stocks. When it was removed, the SEC believed that removing it wouldn't allow that to happen. Depending on who you believe, whether or not it it makes that big a difference is still debated.
I think I've decided to hold C for a little while longer. I will say I cashed in on Office Depot today. SWEET!
no real negative or positive ramifications but it's just more annoying if you are trying to get short. i guess it's about the equivalent of being able to hide your face under a blanket when their is an axe murderer standing over you.
