Jim Rogers: Citigroup is a buy at $5

Quote from murray t turtle:

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Exactly right,Boo123;
30 is important support or RESISTANCE-1987-now.Also 30 is near midpoint between 1987-now[$5&55]

May want to reread the link, mr Rogers is short Fannie, C;
mr Rogers made lots shorting financials in 1987.Most of trends & fundamentals favor polar bears. Hit $10 in 98,
5 &2.25 in 1987,
& .36[cents ]in 1974 bear.

Mr Rogers maybe too optimistic on $5.00, buy but he got the directional probabilities/trends right.

You may make much money on your feb calls, but most of fundamentals /technical trends are simply against it.

:cool: Peace thru strength.
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MT.

What a relief it is to see someone with brains here and not easilly deceived by Jim Rogers.

How come theres so many Dummies here??

If Jim is allowed to continue to slate Citi he may achieve his GOLD POT on his LONG PUTS. :mad: I'm surprised Citi and the share holders are Not TAKING LEGAL ACTION AGAINST PEOPLE LIKE JIM ROGERS?

I do have Lg puts and Lg Calls in FEB too.

Happy new year to you Sir!

And i hope you'll take a lot of lolly from the muppets at ET who trade derivatives.

Booster
 
Do you guys know why banks have so much asset? They make spread on matching assets and liabilities (borrowing at x% and lending at y%). So they are effectively banking the spread b/w x and y. Hence if the spread is low, they would need a lot of asset to make enough to pay their fix cost (economy of scale). The problem with the banks right now is that the assets on their books are actually decreasing in value, so the spread b/w x and y is negative (or can be negative)- hence, they(some of them) have negative earnings.

The amount of assets has nothing to do with the quality of the company and its ability to generate return for shareholders.
 
Quote from boost123:

Enron will never go down to $5 in your life time!! or Jim's lifetime with their assets over 1,000 Billions Dollars!!

Enron Feb Calls on 30 strike.

Its a buy at this level!!

:p
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Quote from traderNik:
Been watching C trade every day all day for the past two weeks. The stock is weak, no question about that. No end to the selloff yet, I don't think. $20 is within the realm of possibility and $25 seems as likely as $34 here.
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Quote from zdreg:
why?
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why what?
 
" No end to the selloff yet, I don't think. $20 is within the realm of possibility and $25 seems as likely as $34 here.

on initial reading I missed the period between think and $20. just goes to show periods are as important as commas.
your post is understandable.
 
dollars. Canit go that low in the near term no. Anthying is possible one year out.. Jim Rogers just has an opinion. Wish all well.
 
Read the article then go buy Citi if you still think its a good purchase (or your stupid enough). The bit about Citi is about 5 minutes in.
 
yikes, another stocktrad3r goes for the 5000 post bonus award! I sold my C this morning, was long that pig and BSC for a bounce. Took a small loss and will trade around these names. No swing trades, as the risk/reward makes it unplayable.
 
I just love recommendations to buy a stock that has not violated its downtrend for a solid year and has shown no sign of bottoming. The stock may be close to its low, but I sure as hell wouldn't bet on it until is showed some strength to at least consolidate. If you know how to read a point and figure chart you would not even consider it.
 
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