With Merril selling way above Fridays close the shorts now understand that C value could be reflected very quickly if a buyer appears. We could see $22.00 or more real quick...ouch for the shorts tomorrow as many try to cover.
I'm not so sure. BAC's absorption of Merrill makes them a competitor equal in size to C with less exposure to the forthcoming credit card debt crisis anticipated in the 4th quarter. Merrill's benefit will be Citi's loss.
Wrong. C has no value. They have no book value since by all measures, their liabilities exceed assets. They have Palin, I mean Pandit for CEO, have just lost their competitive position to BAC. They are also in every credit debacle, and cannot even bid for $3 stocks. Pitiful. Maybe you mean that Longs are dead now? C has no value!