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Non-Tech : Bill Wexler's Trading Cabana
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To: cubsfan who wrote (4990)2/27/2009 8:40:19 AM
From: RockyBalboa  Read Replies (2) of 6370
 
Small update: Some nimble person pointed out to me that C prefs don´t necessarily fall. First, the divvy cut is long anticipated. Second, the CDS spreads in C contracted by a mile pre hours on the bailout. So he told me, unlike the common stock which is heavily diluted, there is now much less in preferred stock (as the government converted it). This means that naturally prefs must go up in price (at least relative to common) and not down.

The dj low was in spitting distance to 7, (12 points).

Oddly. the citi stock recovered to 1.77 (from 1.25) LOL.
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