well citi earnings are friday. i would look to take some off the table but that is just me. let's not forget that citi is going to be 40% owned by the govt.
nyse just announced that they are unlikely to create a when issued market for the new citigroup shares. this means that the ongoing short squeeze in citi COULD continue.
The supply will still be tight until that happens. Citi currently has 5 billion outstanding shares out, and plan to issue 4.4 billion more as early as Friday... that's not going to bode well.
They're people trying to pump and dump stocks with one line statments for the most part and others trying to actually argue and debate them. Those forums are a joke for the most part.
Good for me though, still holding FAZ at 17! Hoping to dump this end of day (or at least put a stop loss just in case JPM Day tomorrow isn't a rally, which I doubt).
Another sign of the times. I just heard on CNBC that General Growth Partners filed for Chapter 11 bankruptcy. They own/develop a lot of major malls around the country. In Houston : Baybrook, Willowbrook, First Colony, Deerbrook, and The Woodlands malls In the DFW area : Collin Creek, Galleria, Hulen, Stonebriar, Town East, Vista Ridge, and the Parks at Arlington malls http://www.ggp.com/Company/Pressreleases.aspx?prid=451
Major malls may be a thing of the past. Increased market penetration from web retailers like Amazon, a decline in the spend culture, and a decrease in real income should lead people to not buy the majority of things at a standard mall.
Possibly some short term topping seen today or perhaps to occur tomorrow. Be very careful with any new Long positions.
A tight stop on C? If they don't announce positive (or positive enough) news, by the time it opens for trading, it'll be well beyond your stop, won't it? I made good money on it during the last run-up, but I didn't have the guts on tomorrow's news. Good luck! If it's good enough news, you could make out big!
I love this quote from Jim Rogers: Diversification is a scam. "Diversification is something that stock brokers came up with to protect themselves, so they wouldn't get sued [for making bad investment choices for clients]. Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket. You can go broke diversifying. Ask anyone who's diversified in the last three years. They've lost money." I was attending an MBA class and the professor was talking about modern portfolio theory and I wanted to say this.
A light read for those that have an interest in Natural Gas and Crude Oil: Current State of Oil & Gas Markets
Warren Buffett disagrees with Mr. Rogers opinion. MPT, to be kind, is complete and utter BS. The intellectual dishonesty that goes into MPT is staggering.
I got out of Citi yesterday, because I honestly have no fricking clue what the next couple of days would bring. On one end you got the ongoing short squeeze, on the other hand you got 4.4 billions shares waiting to dilute the market. And somewhere in the middle, C announces the earnings tomorrow. I lack balls
Jim Rogers proclaimed from the rooftops in summer 2008 "SELL THE DOLLAR - BUY COMMODITIES!" - I wonder how he's done since......
