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03-02-2009, 08:44 PM
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#441
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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 Quote:
Originally Posted by al_bundy
even if I buy a tall starbucks coffee tomorrow, it will still cost me more than a share of C
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Great new Promotion: Buy 2 of any item at Starbucks, get one share of Citigroup. With the volume at Starbucks, C will have a lot of new owners soon.
__________________
" A person is smart, but People are dumb, dangerous, panicky animals, and you know it " Agent "K", Men in Black
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03-03-2009, 08:58 AM
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#442
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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now that uncle sam owns most of C i wouldn't be surprised if they force a sale of the whole entity or in pieces
expect the new name to be the US division of Lucky Dragon Bank of SHanghai or something like that
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03-04-2009, 01:07 PM
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#443
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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I hope someone gets a laugh out of this. I just put a decent sized chunk of change into FAS at $3.50/sh. FAS is the Direxion 3x leveraged Bull Financial Fund. Complete gambling and hoping here. We'll see if this is just more money down the financial stock drain...
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03-04-2009, 01:18 PM
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#444
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by FUEGO
FAS is the Direxion 3x leveraged Bull Financial Fund. Complete gambling and hoping here. We'll see if this is just more money down the financial stock drain...
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"Let's make it double or nothing!"
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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03-04-2009, 01:20 PM
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#445
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by ziggy29
"Let's make it double or nothing!"
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I'm in for triple or nothing. So far it is up 15% from where I bought it. Er, make that 14%, er 13%. To show you what kind of optimist I am, I set a limit order to sell it all at $15/sh (with a $3.50 basis).
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03-04-2009, 02:22 PM
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#446
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by FUEGO
I'm in for triple or nothing. So far it is up 15% from where I bought it. Er, make that 14%, er 13%. To show you what kind of optimist I am, I set a limit order to sell it all at $15/sh (with a $3.50 basis).
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These things are tricky. You can be dead right on the markets, but lose anyway. The criticisms that have appeared on this forum about 2x bear funds also apply to leveraged bull funds.
I think the takehome is these are basically very short term trading vehicles. No problem if the markets go straight up from where you buy, it's the backing and filling that can get costly.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-04-2009, 02:33 PM
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#447
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by haha
I think the takehome is these are basically very short term trading vehicles. No problem if the markets go straight up from where you buy, it's the backing and filling that can get costly.
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That's what my research has indicated too. Not a buy and hold investment for sure. Just a relatively easy way for me to get leverage action without involving real options (the latter is very difficult to implement in personal accounts due to my SEC regulation).
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03-04-2009, 04:10 PM
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#448
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Recycles dryer sheets
Join Date: Nov 2005
Posts: 331
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Quote:
Originally Posted by atlas888
My point is that the impacts of failure of major money center banks would not be confined to just the actual number of their shares owned by pension plan, index and mutual funds, but on everything in the stock market, so the government would not let that happen. Look at what are being done by every government around the world for their banks.
We can disagree, that what makes a market. I subscribe to Baron Rothschild's advise that the time to buy is when blood is running on the street.
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Agreed, but one can make a killing right now if they investigate whatever they are buying very carefully.
I believe the main factors would be a major force in an industry going forward with a solid balance sheet devoid of much debt. Hmm, how to find one, easy to find, hard to verify. One would have to do a targeted forensic audit of books and records, and look under all rocks. Isn't this is what a hedge fund guy does? Reminds me of a fellow I knew who ran one of these overrated schemes and bragged about meeting Mr. Schrusi of Health South, and said it is solid like a rock.
Guess Scrusi gave him nice and boozed up, as the rest is history.
In any case, if one were able to locate 5-10 companies with such criteria, upon the eventual uptick, the booby price would be great.
Right now, trust is at an all time low, like a bunch of wolves all eyeballing each other with fork and knives in hand waiting to eat a nice plumb lamb.
Jug
bahhhhhhh went the american "sheeple"
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03-05-2009, 11:15 AM
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#449
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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C is about to go into .99 cents store territory and i'm looking to maybe buy BAC in the next 7-21 days. i'll trust Ken Lewis over Citi anyday
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03-07-2009, 05:11 AM
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#450
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 898
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While I agree BAC has a brighter (or less dim) future than CIti, I wouldn't attribute any of that to Lewis.
Ken Lewis is the one who destroyed BAC. He's the individual who made the decisions that have rendered it nearly(?) insolvent. None other.
You cannot say that about Pandit. For all his faults, he's cleaning up the mess of others.
__________________
Money's just something you need in case you don't die tomorrow.
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03-07-2009, 06:55 AM
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#451
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 2,083
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BAC compounded the issues facing them by buying BOTH Countrywide and ML.
I wouldn't touch it (or C) until more of this shakes out.
__________________
"We do not inherit the earth from our ancestors, we borrow it from our children.
(Ancient Indian Proverb)"
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03-07-2009, 07:03 AM
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#452
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 898
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Those are the two decisions I'm referring to.
Ken Lewis needs to go. He has zero credibility.
__________________
Money's just something you need in case you don't die tomorrow.
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03-07-2009, 09:11 AM
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#453
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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i have a countrywide mortgage, when i heard BAC was buying them last year i knew it was a big mistake
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03-23-2009, 03:57 PM
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#454
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by FUEGO
I hope someone gets a laugh out of this. I just put a decent sized chunk of change into FAS at $3.50/sh. FAS is the Direxion 3x leveraged Bull Financial Fund. Complete gambling and hoping here. We'll see if this is just more money down the financial stock drain...
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This has turned out to be more profitable more quickly than I expected. 100% return in 19 days.
I did sell 45% of my stake when I was up 60%, and the remainder is up a touch over 100% now. Pure luck and willingness to gamble are key to making quick cash in the market.
Now the difficult part - know when to hold em, know when to fold em.
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03-24-2009, 07:49 PM
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#455
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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Quote:
Originally Posted by FUEGO
Pure luck and willingness to gamble are key to making quick cash in the market.
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Or losing it.
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03-25-2009, 04:02 PM
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#456
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by JohnDoe
Or losing it.
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Exactly!
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03-25-2009, 08:30 PM
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#457
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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If you want to gamble some more...
Option 10,000 shares of C...Jan '10 @5 for .60
Cost $6000
Stock trades at 10 by Jan...turn 6k into 30k
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03-25-2009, 09:58 PM
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#458
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,769
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If you want stocks in solid banks, go buy the Canadian ones.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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04-13-2009, 07:35 PM
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#459
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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Quote:
Originally Posted by JohnDoe
If you want to gamble some more...
Option 10,000 shares of C...Jan '10 @5 for .60
Cost $6000
Stock trades at 10 by Jan...turn 6k into 30k
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This is starting to get interesting. The real money today was made on the April calls...most were up 300%+. Jan 5's were only up 50%.
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04-13-2009, 08:20 PM
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#460
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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A little update - I sold the rest of my FAS triple leveraged fund at 8 and change. Right before it shot up to 10 today. Well over 100% profit, and now I can go back to sleeping at night.  And my KBE is close to break even. Just another 30% recovery is all I need...
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