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Hate to say it but I totally agree that the bleeding should stop when PE goes below 10... See BAC and JPM todayAt the PE of 10 and 18% growth, it will put C PEG to 0.6 with div of 4.9%...Until then people will start to realize that it is a deal of the century.Funny how people think all loans are bad. C still can make $ from those even if they have to hold it (assuming they are smart enough to manage those loans, i.e. not to sell at 90% discount)Short term i see the irrationality continues for 2 more weeks at least. As long as XLF is shorted day after day, I cant see C rebounds..disclosure: i owned C Jan08 and bull spread... Like Mr Bollings said "Not only I lost my shirt, but I got it ripped off"That's exactly what happened to me this week.