I will buy some when it drops to $3. The recession has just started, and the company is having trouble staying afloat from its current exposure,and future fallouts will happen. C won’t fail but it should be priced closer to a company that needs to go under Chapt.11 What does anyone else think?
I think this is too big to fail and also too big for any mere mortal to analyze. If C bled $200B would the Fed really pay up?
Maybe in the long term your right, but in the short term, I would say it trades back to maybe $ 8-10, price range where Paulson ditched the TARP and before the panic selling last week. I’m using the price action of MS in the Oct 10-13 timeframe, they traded down to 9.68 on Friday and jumped to 18.10 on Monday, an 87 % gain on the MSFU infusion. Hopefully, I’m not setting myself up for a big disapointment.
Uh, in the short term you think this stock is going to gain 60 - 90%?! Since its risk of bankruptcy anytime soon seems low, you should be borrowing on your credit cards to buy.
When you put it that way, my conviction seems somewhat muted. I already put all my spec money in C on Friday and I do expect C to get back to $ 8-10 by the end of the week, where it it trades from the there is anyones guess. I just wanted to play the bailout plan. I’ll see what happens in the last hour. Thanks for the perspective.
JoeyDVivre Wrote: ------------------------------------------------------- > Uh, in the short term you think this stock is > going to gain 60 - 90%?! Since its risk of > bankruptcy anytime soon seems low, you should be > borrowing on your credit cards to buy. So you’re loading up Joey?
how about long a financial ETF with 200% daily exposure?
IronMan Wrote: ------------------------------------------------------- > JoeyDVivre Wrote: > -------------------------------------------------- > ----- > > Uh, in the short term you think this stock is > > going to gain 60 - 90%?! Since its risk of > > bankruptcy anytime soon seems low, you should > be > > borrowing on your credit cards to buy. > > > So you’re loading up Joey? No. I think that whenever these wacky events happen, wacky people come out of the woodwork and start either buying or selling based on nothing.
long XLF, no need to worry about stock picking in this tape …if SAC cant do it, I cant
really , does the future of finance seem so bright like in the 90s?.even if citi etc survive,their big money making model(securitization+leverage) is broken and unlikely to instill any confidence in investors.some of these banks will survive and even thrive,but the heady days of the 90s are surely gone.the finance bullmarket is gone. this is like investing in GM in late 90s when it was at decade lows.the operating model is broken and thats what the markets are discounting.one can never guess how far the fed will go in propping up these companies,but they arent bargains by any means. a speculative stock -yes.but its not value investing just because it is nominally cheap. ps: i like what jimmy rogers said about GM: “It is always a good time to short GM”!