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Non-Tech : Bill Wexler's Trading Cabana
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To: Man on the moon who wrote (2970)11/1/2007 9:55:56 PM
From: RockyBalboa  Read Replies (2) of 6370
 
man on the moon here is followup

While CFC bounced and GS storms ahead, C did break 40 which was not unexpected. Maybe...it was some washout. Then buy Citi. I think the sudden down grade of money centers is a hoot.


Not yet. There have been numerous attempts by "activist" hedge funds to the mammouths management that it trims some of its fat but even those demands failed to address the real problems at C. The ongoing liquidation means that those types have given up on C.

The stock didnt react when C announced to axe 30k, and it did litte on the fed cuts. UBS did better and held up after admitting losses.

Short term C could recover once October is past (and by then the stock should have traded through 40). But if I want a quick trade on the inevitable bounce a highly leveraged entity like CFC is better. Long term I still think GS and JPM are better.
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