Bill Wexler's Trading Cabana Message Board

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Non-Tech : Bill Wexler's Trading Cabana

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To: cubsfan who wrote (4990)	2/27/2009 8:05:17 AM
From: RockyBalboa	Read Replies (2) of 6370

C... picked up some stock at 1.30 and below...for fun reasons... some Citi preferreds are free money. Complete throwup, they are scattered all over the place. Unfortunately I have now no time to read the OCs for the prefs.. :( The tendency would normally be that the preferreds also go down, because they no longer pay a dividend. But some behave very oddly. Dangerous stuff where one has to feel out premarket supply / demand. The preferred I is up 80%. This is stuff which could kill one. Lehman preferreds dropped from 300 to 1.50, and Wachovia preferred traded at few bucks and then hit $20. The other thing today could be a 6 handle on the dow...

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