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CIT Group (NYSE:CIT) up 115%, reportedly talking with J.P. Morgan Chase and Goldman Sachs about...

CIT Group (NYSE:CIT) up 115%, reportedly talking with J.P. Morgan Chase and Goldman Sachs about short-term financing of $2B-3B as it tries to stave off bankruptcy.

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It fell to 1c at one point. Not sure if that's an error, but its not corrected on Google Finance, so I assume its correct...Data error?
Don Martin profile picture
I can't help but wonder if it's a DIP package that's being negotiated.
Vieira Trading profile picture
and an analysts downgraded it yesterday from HOLD to SELL. What to think about these analysts?
Oh my god, Oh my god, I just made 115%!!!

Ok so I am kidding.

So what? If you are gambler, great, you made 115%.
If are not a complete idiot and put a few dollars in and not your whole portfolio, you maybe made a few dollars and call it a day.

If you are anything else, hey great. So instead of being down 99.9% in CIT you are now down 98.9%.

Give yourself a huge pat on the back as to how great an investor you are then.

My guess is that they leaked this news, and are currently shorting the stock. Then later today, or Monday, they'll announce either that they were never in talks, or that talks have ended with no agreement, sending the stock price plummeting, and they rake in the cash.
LOL they dont even pretend there is a distinction between obama admin and GS and JPM. bailout coming from gov? or GS? whats the difference. if it happens, the taxpayer foots the bill
so are JPM and GS trading it? they know exactly what will happen


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