waf76

Bank of America Doing Worse Than Citi?

BAC is gonna skyrocket. ITs still in better shape than C. The government owes them a favor after the Lewis-Bernanke-Paulson Merrill fiasco.

What Shorts Did Ahead of Citigroup Announcements

I agree, let the shorts make their dollar per share while us longs make 1000% on our holdings. There is no longer any fear of nationalization.


On Apr 17 09:30 AM David White wrote:

> In other words Citi actually made $.06 if you subtract out the charge
> from revising the conversion price on preferred stock. This is quite
> a change from last year. Does this mean the situation is rosy for
> Citi? Of course not! However, this stock was in the $50's less than
> 2 years ago. This is clearly a step in the direction of returning
> to that valuation.
>
> This morning it looks like the short sellers are trying to start
> a move to the downside. Citi is short 22% of its float. This seems
> likely to be so they can get out. BAC reports on Monday. They are
> likely to have one of the best banking results yet. This is likely
> to drag the financials up still further. It may not be in stock holders
> best interests to play the bears' game on this one. Punish those
> negative gluttons today. They have made a lot of money as the market
> has gone down. Is Citi returning to $1 over the longer term? I doubt
> it. Citi is more likely returning to $20 to $30 within the next 3
> years (perhaps sooner). This would be a huge profit for most people
> (a 5 to 8 bagger in the words of Peter Lynch). If you ignore the
> short sellers, this stock may really shoot up. The shorters will
> have to cover, and there are a lot of them.