Good article in Barrons about the activity in C Massive Short covering going on http://online.barrons.com/article/SB123739146137172035.html
The _only_ thing I didn't expect was today's $3.36 (High value) which may change my target price from $2.40 to $2.55 or so.. Other than that, short covering or no short covering, the financials will face a drop soon, as I said, with C spearheading along with BAC, MET etc.
Government is taking its time to be a shlock house brokerage firm.. All the stock is owned in inventory and they will sell it out and make sure the shorts can't borrow stock.... HOld on and get in the game...
Yes indeed you can't. I found out myself, right after I issued the prediction but I couldn't withdraw it. Sorry about that. But then again, even for... academic purposes, it looks like I added another success to my...resume! This was hard for people to believe when the stock was flying at $3.89! But it finally landed round $2.60, with still more room to fall! Nevertheless, next time I will try to issue a prediction out of which people can make money, like those in my other postings. PS: Who can blame the government for banning shorts on C? With all that bad press, the stock would end up to null a couple of weeks ago!
Gaps needs to be filled and unless your a hedge fund, you cannot short a stock that is under $5. If you are sure of a retracement to under $2, I would advice buying some puts for Apr@2.5. However, I believe Bac have some more room to fall and there are plenty of shares for you to short in open market.
You can get put options on C, no? I mean you have to pay a bit more, but if you think C is worth NILS....its worth making that trade.