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To: cink40 who wrote (69167)	11/21/2008 2:27:57 PM
From: Keith Feral	Read Replies (1) \| Respond to of 118717

What a brutal day of option manipulation. JPM at $20, spg at $35, xom at $70'ish, aapl at $80. C is the real suprise, having blown through the $5 strike. Here is another good one - MA at $115. WFC at $20, the price recommend by Meredith Whitney. I wonder if she would ever come out and recommend a bank at a certain price level. Probably not. Well, the good news is that they did most of the damage yesterday, with the exception of the banks. The bad news is that the banks are getting pummeled today. Is there a silver lining that C is finally getting to the point where the shorts can no longer make money? That is a real dilemma. If the bank really needs to make a deal, they can do so with GS. If they don't make a deal, can the stock price get that much cheaper? If WB was bought by WFC for $15 billion, C is worth a helluva lot more than WB. Rationally, I would have to conclude that C has no downside below a $15 billion market cap. I would go so far as to say that C is worth twice as much as WB in a strategic deal or $30 billion. Maybe they would be worth $40 billion which would put them around $8 or $9.