1) There is no bank run. Citi's customers and partners are staying put. And Here's a Real (not a fictional) News Flash - Citi has plenty of reserves. 2) Citi has trillions in assets. 3) Three and three is a biggie - the SEC meets Monday for an EMERGENCY session and will be banning short activity. 4) New Treasury Secretary, Geithner, is huge for the banking industry and understands the importance of healthy viable banks. 5) Gov't deal injects $20 bil cash($4/sh. plus 25 bil. last month $5/sh.). Plus, the true biggie 300 bil magic debt protection (value $60/sh.) and the preferred is basically more loan than dilutive to common shares. 6) Citi debt protection (CDS) dropped in half today - one of the biggest components of the short raid is now gone.
What do I see for this week's special Thanksgiving recipe boys and girls? 1) 1/2 Cup of SEC Brand Short ban 2) 1 Cup of SEC Uptick rule 3) 4 Cups of Massive short covering 4) 5 Cups of Massive long investments 5) 1 TBSP Citi Debt swaps fall in price 6) 2 TBSP Fed deal and statement, "We will support our vital financial institutions" 7) 20 Billion Cups Cash 8) 306 Billion Cups of magic debt protection *Bake for 2-3 days and recipe should render $12-20/share.
jmho, Happy Thanksgiving to all Americans, we deserve it. Watch and learn. The truth is out there
back at ya my brotha. if you think I,m cookin wait til you see this stock soar. my predic. if you start at $3.77 this stock is a 3 bagger before end of year - hell probably before end of month. my advice hold onto your shares particulary today and tomorrow shorts will play games big time. I will be buying more.