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Originally posted by Hx3_1963
reply to post by GreenBicMan
Hmmm...
Don't get it do ya...
They can't count on more TARP...we told Congress..hmmm
They have to "pump"...before....their "Dump"...
Remember..."Get it while ya can..."never waste a good crisis..."
Originally posted by redhatty
reply to post by GreenBicMan
Yep, saw it, all on low volume (more volume on the AH waterfall). Wonder what happens Friday when they announce earnings.
I bet it won't be pretty
Originally posted by redhatty
reply to post by GreenBicMan
Yep, saw it, all on low volume (more volume on the AH waterfall). Wonder what happens Friday when they announce earnings.
I bet it won't be pretty
Originally posted by Rockpuck
Originally posted by redhatty
reply to post by GreenBicMan
Yep, saw it, all on low volume (more volume on the AH waterfall). Wonder what happens Friday when they announce earnings.
I bet it won't be pretty
With Mark to Market rules changed right before 1st quarter announcements (shocking coincidence) I would bet that will eliminate a big chunk of their losses (all banks). Coupled with the surplus in revenue from AIG to the bigger banks via Tax Payers I would honestly be a bit surprised if they didn't post a good sized profit.
As for the rest of the S&P500, losses across the board.. just because the banks have cash now doesn't mean consumers are spending.
GreenBicMan
Even at $5 or $10, it's still relatively cheap for Citi shares, compared to market highs or even decade long averages. I am still siding with red and hx on this, it won't last. I believe what we are seeing is funds throwing a lot of money into the market, as they get higher prices the institutional funds will sell off, bringing in the profits, then selling off with private funds. "Pump and Dump" as it's called. It will be a great way for some of these funds to post a return.