Citi, BAC up and up!!

[Merl Haggard]

Yes, may the force be with us, not a bad day today, i got out all though so keeping off for now.

My present position is for the medium term, but will take up
another position for trading when market pulls back.

Also don't forget about OCBC, UOB and DBS.

 

[wuqi256]

My present position is for the medium term, but will take up
another position for trading when market pulls back.

Also don't forget about OCBC, UOB and DBS.

Oh i see, i haven't played local market for a long time, what kind of performance do you forsee for them?

 

[Conan the Barbarian]

Fellow bear-market rally bulls; I'm also long in the DIA (DOW Index). Got in at 6650 last week and am advised
to hold till 9000 & then sell and turn short.

May the force be with us.

I also got in about the same time, but I should be out of the market between
7500 and 7800 for Dow.

 

[Conan the Barbarian]

Oh i see, i haven't played local market for a long time, what kind of performance do you forsee for them?

OCBC should be safe, as it dropped the least %wise over the last week.
I got in too early at 4.20, but the downside was so limited it did not cause any panic, think the low was only $3.95.

I think we should see OCBC go back up to 4.50 - $4.60 levels next week.

DBS should be able to claw back to $8.00, and I will exit just before that.

There's no hurry to buy long term yet, so pick bottom again for the bounce.

Steer clear of SIA and NOL.

 

[wuqi256]

Got it, OCBC and DBS. Just for short term positions, will get in on Monday.

 

[Conan the Barbarian]

Er ... Monday may be too late if the market opens high.
The downside risk is too much compared to the upside potential.

 

[Meltdown]

To the gentleman who suggest BAC when it was 3plus, i salute you and you have an eye for the non-obvious. BAC today reached a high of $5.47(now 5.37).

To the gentleman who told me not to even think of Citi when it was below $1, for the short term you have been proven wrong, it is now $1.65, reached a high of 1.72 today.

Those who bought in BAC now are having a party, those for Citi a smaller one.

I took part in neither so now watching the market closer.:o

7,268 is a major technical resistance for the Dow Industrial. It used to be a major technical support that lasted about 6 years which was broken recently which is a big deal. Bear market rallies tend to be very sharp and short lived.

Watch the 7,268 on the Dow very carefully. If it fails to close and stay above that number in the next few weeks, the US market will continue to drop and it'll be wise to short the Dow.

 

[wuqi256]

Thanks for the inputs, now the Federal reserve chairman said recovery is coming at the end of 2009?
http://sg.news.yahoo.com/afp/20090315/tts-us-economy-bank-bernanke-972e412.html
http://sg.news.yahoo.com/afp/20090315/tts-us-economy-bank-bernanke-depression-972e412.html

Wondering how true it is?

Bro Conan, seems i have missed the boat for OCBC then. :(

 

[Merl Haggard]

My present position is for the medium term, but will take up
another position for trading when market pulls back.

Also don't forget about OCBC, UOB and DBS.

Downgrader, where are you hiding to play your guitar? Come out to tc and ss leh.

Today OCBC rose 9c, DBS rose 16c and UOB rose 43c.

You see, you cannot everyday remain bearish and live on fresh air. Some days you've
got to be bullish, otherwise you'll never get ahead in life.

Tonight Dow Jones will rally again cos banks shares are surging in pre-market trades.

 

[wuqi256]

Indeed, as per what Conan said, its really up to more than 4.50 and actually reached 4.52 this week.
http://finance.yahoo.com/q?s=o39.si

Merl points on the stocks also seemed proven thus far.

I only made a little, hope that Conan and Merl makes more. Even the nay sayers, hopefully they made some at least and didn't miss out.

I am only human, it was a risky move but in hindsight, it was a good move to get into bac. I guess the best way is to be more nimble in a volatile market, but what do i know? I am still new at this.

 

[Merl Haggard]

Indeed, as per what Conan said, its really up to more than 4.50 and actually reached 4.52 this week.
http://finance.yahoo.com/q?s=o39.si

Merl points on the stocks also seemed proven thus far.

I only made a little, hope that Conan and Merl makes more. Even the nay sayers, hopefully they made some at least and didn't miss out.

I am only human, it was a risky move but in hindsight, it was a good move to get into bac. I guess the best way is to be more nimble in a volatile market, but what do i know? I am still new at this.

Wuqi, today global stocks climbed for the 5th session in a row, and experts all round are upbeat on the financial sector.

Tonight Dow's rise will see local bank shares rally further tomorrow cos we've been very oversold.

I've a feeling that this rally will go on right through the month of March, subject to fluctuation.

 

[wuqi256]

Thanks Merl, wow Citi is 2.18 today, really feel like kicking myself now for not buying. Bac at its highest was 6.44. I should have held on to my shares.

Assuming if a person has just 50k USD to spare, which shares should he go into?
Not me of course, i am a small humble player, just asking opinions for a friend of mine.

 

[wuqi256]

Saw some news just now:
http://sg.news.yahoo.com/afp/20090316/tts-stocks-world-c1b2fc3.html

 

[wuqi256]

Anyone heard of Procera, PKT(Amex) ? Thinking of getting in 5 lots, now 0.67. Today is their earnings result, may go up or may go south. Any opinions welcomed.

 

[wuqi256]

Anyone watching citi today? Its now 2.50, highest today was 2.68.
Bro Conan, you were right all along.

 

[cowbehcowbu]

Bros..dont be fooled and trapped by this short bear rally...hedge fun is playing the market...take profit and get out..BOA CITI, AIG, FREDI etc,,in my view are technically bankcrupt...just see what BOA has done with 179B given to them...they just pay of debts to buddies friend,,and take big bonuses....NO HOPE...OBAMA jusy cannot control all these financial vultures,,,,listen to LIM ROGER, WARRANR BUFFET ,,,Bernakee is only a tool of the big bosses who control wall street...his predeccor is instrumental in lower the interest to such a low level that all the financial institution got such into this HUGE subprime disasters.......1.4 quadrallion...[ quad =1000Trillion..].....NO HOPE..US financial got to start from scratch...watch out...within a year the U$ will plunge...in my view...so get out of us stocks when you make some monies from short rally.........

 

[wuqi256]

Bros..dont be fooled and trapped by this short bear rally...hedge fun is playing the market...take profit and get out..BOA CITI, AIG, FREDI etc,,in my view are technically bankcrupt...just see what BOA has done with 179B given to them...they just pay of debts to buddies friend,,and take big bonuses....NO HOPE...OBAMA jusy cannot control all these financial vultures,,,,listen to LIM ROGER, WARRANR BUFFET ,,,Bernakee is only a tool of the big bosses who control wall street...his predeccor is instrumental in lower the interest to such a low level that all the financial institution got such into this HUGE subprime disasters.......1.4 quadrallion...[ quad =1000Trillion..].....NO HOPE..US financial got to start from scratch...watch out...within a year the U$ will plunge...in my view...so get out of us stocks when you make some monies from short rally.........

Hi Cowbeh, do you just mean the stocks will fall or USD will fall as welll? How much will the USD plunge? All my investments are based in EU and USD, i kept very little SGD as advised by friends.

 

[Conan the Barbarian]

Bros..dont be fooled and trapped by this short bear rally...hedge fun is playing the market...take profit and get out..BOA CITI, AIG, FREDI etc,,in my view are technically bankcrupt...just see what BOA has done with 179B given to them...they just pay of debts to buddies friend,,and take big bonuses....NO HOPE...OBAMA jusy cannot control all these financial vultures,,,,listen to LIM ROGER, WARRANR BUFFET ,,,Bernakee is only a tool of the big bosses who control wall street...his predeccor is instrumental in lower the interest to such a low level that all the financial institution got such into this HUGE subprime disasters.......1.4 quadrallion...[ quad =1000Trillion..].....NO HOPE..US financial got to start from scratch...watch out...within a year the U$ will plunge...in my view...so get out of us stocks when you make some monies from short rally.........

I agree with CBCB. This is a bear market correcting itself short term.
I am liquidating my Citi Shares soon, before FOMC tonight. Whatever the statements from FED, even good news, I think there will be a round of profit taking.

We may not see Citi back to $1 again, but current prices above $3, its extremely dangerous to get in. With GIC holding billions worth at the conversion price of $3.24 from their preference shares, they will exit part of it at least, as they will get away scot-free from a bad investment decision.

Having said that, I will look to get back in at a lower price.

To Bro Wuqi,

Stay safe and nimble. Getting in Citi Bank may look brilliant on hindsight, but at the entry point, the money used to buy it is considered gone because if it was nationalised, it will be entirely gone. I did buy RBS when it was trading at over a pound, but force to liquidate at 60 pence before it tumbled down to about 20 pence after being 95% nationalized. So its not all a bed of roses or free money.

 

[cowbehcowbu]

Bros..can consider gold related investment..paper gold if fall below 850 or better still 800...some HK$/RMB china stock shall be good..especially those related to infra-structurestocks.......resource-based unit trust shall be good long term picks....their values will auto-adjust even when the US$ sink......