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Old 03-02-2009, 09:44 PM   #441
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even if I buy a tall starbucks coffee tomorrow, it will still cost me more than a share of C
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.
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Old 03-03-2009, 09:58 AM   #442
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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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Old 03-04-2009, 02:07 PM   #443
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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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Old 03-04-2009, 02:18 PM   #444
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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...
"Let's make it double or nothing!"
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Old 03-04-2009, 02:20 PM   #445
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"Let's make it double or nothing!"
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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Old 03-04-2009, 03:22 PM   #446
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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).
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
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Old 03-04-2009, 03:33 PM   #447
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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.
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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Old 03-04-2009, 05:10 PM   #448
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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.
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.

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Old 03-05-2009, 12:15 PM   #449
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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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Old 03-07-2009, 06:11 AM   #450
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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.
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Old 03-07-2009, 07:55 AM   #451
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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.
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Old 03-07-2009, 08:03 AM   #452
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Those are the two decisions I'm referring to.


Ken Lewis needs to go. He has zero credibility.
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Old 03-07-2009, 10:11 AM   #453
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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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Old 03-23-2009, 04:57 PM   #454
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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...
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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Old 03-24-2009, 08:49 PM   #455
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Pure luck and willingness to gamble are key to making quick cash in the market.
Or losing it.
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Old 03-25-2009, 05:02 PM   #456
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Or losing it.
Exactly!
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Old 03-25-2009, 09:30 PM   #457
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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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Old 03-25-2009, 10:58 PM   #458
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If you want stocks in solid banks, go buy the Canadian ones.
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Old 04-13-2009, 08:35 PM   #459
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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
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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Old 04-13-2009, 09:20 PM   #460
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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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