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I`ve been advised by an investment adviser that Lloyds Bank and RBS shares might well double in value over the next 12 months as the goverment sells to get some cash back!
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That's why I just sold some last Friday, getting a little too rich for me. Goldman Sachs looks interesting now, wonder what his testimony before the Congress will do for GS stock.Apple continues on a tear. It was up something like 7-10% last week alone.Comment
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Good thing I sometimes listen to you guys!
Citigroup: Financial Winners & Losers
By Robert Holmes 04/26/10 - 03:23 PM EDT1 CommentAdd Comment
Stock quotes in this article: C , BAC , GS , JPM , TWPG , PMI , WFC
(Citigroup and other stock prices brought current in this update.)
Citigroup Incorporated| C
DOWN
NEW YORK (TheStreet) -- Citigroup © was among the losers of Monday's session, pressuring the financial sector, after the U.S. government announced the initial step to divest its stake in the bank.
Citigroup shares traded lower after the Treasury said it plans to sell 1.5 billion shares of its total stake of nearly 7.7 billion Citigroup common shares. The sale is the first step in a pre-arranged written trading plan with Morgan Stanley (MS). The Treasury received the Citigroup common shares last year as part of the Capital Purchase Program at a price of $3.25 per share.
Citigroup was lately losing 24 cents, or 4.9%, to $4.62. Still, the stock is up nearly 40% in 2010.
Other major U.S. bank stocks were trading lower. Goldman Sachs (GS) slid 3.6% to $151.75, Morgan Stanley (MS) fell 3.4% to $30.85, JPMorgan Chase (JPM) was down 2.6% to $43.79, and Wells Fargo (WFC) gave back 2.1% to $32.79.Making newbie mistakes since 2009 so you don't have to
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Is it time to bail while you can?
Is europe about to implode?
Is the euro about to go tits up?
Will Germany be the 1st to leave?
Will China intervene shortly to stop the massive asset bubbles there?
I know what Pacman is thinking
Greece and Portugal issues are not headline news ... CDS spreads had already indicated the issues there.
Before y'day CDS spread on Portugal was only half of Greece... Ireland was lagging Portugal... Contagion?? i'm not so sure.
How about the rest of you? Getting nervous?
Easy money days are coming to an end me thinks....
Back to business now... this may not be a time for the faint hearted
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Please tell me...(azza33 @ Apr. 28 2010,18:35) I know what Pacman is thinking
...I don't even know what I'm thinking
Despite the high cost of living, it continues to be popular.Comment
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Switzerland is buying EURO like crazy in an attempt to keep the exchange rate at acceptable levels for the industry.
I have been saying for a long time already that Europe is going to going to have major financial troubles soon.
just wait until the baby-boomers age out of the work market, and therefore also out of the taxes...
France already announced that since all the leftists there don't want to hear about a cut in pensions, it is either putting the social duties up by 10 points (i.e. like from 30 to 40% thus heavily crippling companies) or setting retirement age at 70.
All European countries will eventually end up with very high taxes (I expect around 60%) and very oppressive living conditions (surveillance by gvt).Comment
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The only thing i'm not sure about is exactly where the minute hand on that doomsday clock of yours -- but i know its ticking away furiously(pacman @ Apr. 28 2010,19:08)Please tell me...(azza33 @ Apr. 28 2010,18:35) I know what Pacman is thinking
...I don't even know what I'm thinking
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(PigDogg @ Apr. 18 2010,13:42)Knowing what we know know we could short companies like Countrywide Financial or buy PUT options but I'm not sure if retail investors could directly short CDOs.(azza33 @ Apr. 17 2010,21:53) Just a shame we all didnt get on the gravy train here.
I'd be curious to know how if anyone knows.
.Found this reference PD.iTraxx (Bloomberg code 'ITRX') is the brand name for the family of credit default swap index products covering regions of Europe, Australia, Japan and non-Japan Asia. They form a large sector of the overall credit derivative market. The indices are constructed on a set of rules with the overriding criterion being that of liquidity of the underlying Credit Default Swaps (CDS). The iTraxx suite of indices are owned, managed, compiled and published by International Index Company (IIC), who also license market makers.
Credit Default Swap indices allow an investor to transfer credit risk in a more efficient manner than using groups of single CDSs. They are standardised contracts and reference a fixed number of obligors with shared characteristics. Investors can be long or short the index which is equivalent to being protection sellers or buyers.
The most widely traded of the indices is the iTraxx Europe index composed of the most liquid 125 CDS referencing European investment grade credits, subject to certain sector rules as determined by the IIC and also as determined by the SEC. There is also significant volume, in nominal values, of trading in the HiVol and Crossover indices. HiVol is a subset of the main index consisting of what are seen as the most risky 30 constituents at the time the index is constructed. Crossover is constructed in a similar way but is composed of 50 sub-investment grade credits.
The constituents of the indices are changed every six months, a process known as "rolling" the index. The roll dates are March 20 and September 20 each year. The latest series is S12 which matures on Dec 20, 2014 for the 5 year contract. Series 13 will be launched on March 20, 2010. Other maturities for Europe and HiVol are 3 year, 7 year and the 10 year, whilst the Crossover only trades at maturities of 5 and 10 years.
These indices are tradable instruments in their own right, with pre-determined fixed rates, and the prices set by market demand. Official pricing is collected on-behalf of IIC by Markit Group Limited on a daily basis by polling the trading desks at banks that are licensed market makers. The most liquid indices also have a weekly Tradable Fixing calculated in a similar fashion to the Libor fixings process. The tradable fixing is often used as a reference price for calculating payments of other structured credit instruments.
At present trading in iTraxx CDS contracts is limited to the Over-the-counter (OTC) market. Eurex the futures exchange launched exchange-traded futures (not CDS) contracts based upon the iTraxx Europe, HiVol and Crossover 5 year indices in 2007, but these products achieved minimal volume at launch and do not currently trade.
NYSE Euronext made iTraxx CDS contracts available for processing and clearing on its Bclear platform on 22 December 2008.Comment
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When the dust settles there are going to be some bargains out there - just like this time last year...
SHEMALE.CENTER
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(Bumpa STIKKA @ May 04 2010,22:52) When the dust settles there are going to be some bargains out there - just like this time last year...
see aboveEasy money days are coming to an end me thinks....
There's always a silver lining
Did you exchange a walk-on part in the war for a lead role in a cage
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Simplistic notions indeed but historically accurate
what is more important is will you be in a position financially & mentally to take advantage if there is another round coming?
Some of the scenarios discussed about Europe are quite scary...
I was privy to some internal reports from prudential about china & it made very interesting reading indeed...
And as for Australia, the second strongest economy in the OECD, you have to wonder why the major retailers are warning of revenue contractions & profit issues if oz is travelling so well?
Couple that with a major new tax on resouces, a softening of demand from china & new suppliers coming online - the miracle economy may not be that Teflon coated after all - stay tuned and alert as the road will be rocky for sure.Comment
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It's a minute to midnight... 
I talk with old retail colleagues & they don't think we are enjoying any sort of economic miracle.
I expect the next big news affecting the markets to be negative. China's economy is progressing furiously but their trouble is, their markets aren't.
And no one mentions Japan but with their debt problem now so huge, it must be time they started repatriating some of their overseas investments.
Japan's public debt now sits at 214% of GDP, only financed by loyal citizens prepared to lend their savings for little return. The country is perilously close to collapse & when Tokyo goes, who follows & just how big an economic tsunami will they create?
They'll make Greece look like small change.Despite the high cost of living, it continues to be popular.Comment
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Interesting. Thanks Azza!(azza33 @ May 04 2010,07:26) Found this reference PD.
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If the government sells then surely this will drive the price DOWN, not up!(Gobbler @ Apr. 26 2010,20:20) ...Lloyds Bank and RBS shares might well double in value over the next 12 months as the goverment sells to...
The banks are for day trading only. Don't risk any long term cash in them.SHEMALE.CENTER
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