cos1000

Cheap Stocks Aren't Always Bargains - Barron's

"This isn't to say that low-priced stocks are without fans. But the key point for many investors is if you've done your homework and still like the stock, hold on. If not, breaking the $1 mark (or the $5 mark) is a good signal to sell."

This is one of the more absurd article conclusions I've heard in a long time.... The key point is if you've done your homework, still like the stock, then hold on. If you haven't done your homework, you shouldn't have bought the stock to begin with and these SP benchmarks mean nothing...

Is Citigroup Laying Off Analysts?

still sirius, I share your pessimism on the dilution of shares through both actions being asked for by Mel and the Board. The reverse split authorization does not mean that it must occur. Next week we are going to get a notice of non compliance from Nasdaq and the 180 day clock will begin to tick. Appeal this 180 day and getting an extension for another 180 days requires a written plan to bring the stock price above a $1. The reverse split would be included in this plan. A lot can happen prior to a RSplit and seeking authorization is prudent at this time but heightens my apprehension. The additional shares is also required in order to have all options for financing open but does not bode well for common shareholders.

I need to hear from Mel before I can decide how or what I will do. I find it very difficult for me to support either action. I am not a fan of either reality but here we are.

Is Citigroup Laying Off Analysts?

killer...... I really don't know. I do feel the change in regulations puts the ability to enforce and punish in place. It also puts more penalty on the Broker Dealer, eliminating their ability to short any stock not just the one the violation was recorded for. Its a start..... with a new administration coming in a lot can get lost in the shuffle.

still sirius, thanks for the heads up on the annual meeting and those amendments to be voted on.... just started reading the filing and must say it concerns me without some further explanation.

Is Citigroup Laying Off Analysts?

I recopied the link from the other article. Try this:

www.sec.gov/news/press...

Is Citigroup Laying Off Analysts?

killerkaul, I didn't have the nerve to keep my buy at .39. Probably would have gotten it but I was happy with .41. Who really knows? I got to admit I was nervous with my shares turned to cash, what little is left. I Did knock .10 / share of my cost basis and I guess that's what's important right now as you already know.

still sirius, nicely said.......

Is Citigroup Laying Off Analysts?

Hey guys, averaging down is my plan but I am not doing it with new money anymore. We need to get 3rd qtr out of the way and some solid news on the refinancing. I sold shares at .53 on Monday and bought back today at .41 today. Never seem to catch the actual top or bottom but at this price a .12 cent swing is a 25% increase in shares. Sold around 12K shares and picked 15K today. That's about all you can do while you wait for execution on business plan, refinancing etc. The market is volatile and all you can do is take advantage. Can't worry to much about being exactly right on the up side or on the down. Set a percentage and stick to it. Greed is the only thing that will have you miss accumulating shares. The big pay off for your work will come when the company executes well and refinances debt.

By the way this article is not news of any real concern. GS is in control as stated above by s162. When they turn to the up side this stock will run. They hold a lot, 127M worth, of the Feb 09 debt. When this debt goes away look for GS to turn long on this stock, even a very cautious Market Perform from Weinkes going to 1.25 - 1.50 target would be a great sign. I wouldn't expect anything like that until Mel has the debt resolved.

I posted this on the other article this morning but haven't heard much discussion about it. I guess all the focus is on Paulson buying bank shares for us citizens:

SEC Imposes New Short Selling Rules:

sec.gov/news/press...

The Commission's actions will apply to the securities of all public companies, including all companies in the financial sector. The actions are effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.

"These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling," said SEC Chairman Christopher Cox. "The Enforcement Division, the Office of Compliance Inspections and Examinations, and the Division of Trading and Markets will now have these weapons in their arsenal in their continuing battle to stop unlawful manipulation."

There is more in the article and additional rules that were adopted. The complete set of rule changes are located at the link above.