Anyone long at C?

I'm thinking about taking some position at C.
Although there was a rumor in the market that one of the major banks was in a big trouble, I think it's just a rumor.

Otherwise, Paulson wouldn't be betting on it with $1Bn+ in C.

 

He wouldn't be the first one to lose a metric crapload or two betting on this.
Or the last, given the number of times they've been rescued by the USG.

 

Wait till it gets to about $3.25

 

i think c will easily go to $8 but it might take another 6 to 8 months
the market has been going up and up and up so we have to see a bit of profit taking

 

I bought at 2.98 and with a covered call got it down to 2.32 as my cost basis. I'm holding for now.

 

Short term...

I was thinking of loading up on the $4 Sept puts.

or the

AMD $4 Sept puts

I like to gamble, looking for a home run...

 

Like Soros was betting on Lehman?

 

Okay its a no brainer the bank biz is a simple formula. fees fees fees. End of the year fees, Promo fees and also check fees or even late fees. I say step in here Gamble and let it ride. C is at 4.52 and I see 8 in a few months.

I called it under 2 and I like it here at under 5. Its over 5 by next week and then flip to margin at 6 buy more 75% then flip again at 8 for another 25% and use the SMA to buy more at 10.

Its not a trade for the faint hearted. If you traded and made money all year its time to invest.

The new book is coming out soon stay tune... Cha Chink