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citi corp

BAC, which both Alexchia01 and you are holding, is also making a move. Enjoy the feeling. Cheers.

 

if citi can stay above $5, it will be in another league, hopefully the gain can be sustained. cheers!!

 

Citigroup just blew away concensus EPS estimates of $0 (breakeven) and announced EPS of $0.15! Like BAC, it's firmly on the road to recovery. Hopefully this will be enough to counter the Goldman effect. Will listen to Vikram's post conference call before loading some more if positive. Need to hear his analysis of how the SEC/ financial reform will affect banks. Cheers.

 

In fact, in the recent weeks since Feb there were good rally in some of the stocks and short term consolidation is inevitable. With the Greece issue (not really over yet), China Govt curbing the ppty mkt, likely interest rate hike, GS issue (maybe more to come), Airline problems (the disruption of flights in Europe), stocks market will likely take a beating before all these issues settle down. How hard it hits the stock mkt is anybody guess!!!!

 

jm2212. Agree. That's the concensus view on Wall Street at the moment. The timing of the SEC announcement, just when the Democrats are trying to push through a bill for financial reform, left many observers feeling that an announcement is impending. That's why I held back from going into Citi yesterday and why I'm looking at BAC at $17, or less, as an option. Any announcement next week will sending financials tumbling and that's when I'm going in. Cheers.

jm2212      ( Date: 18-Apr-2010 00:56) Posted: On Saturday, The New York Times suggested in an editorial the charges may be just the beginning of a broader government campaign against Wall Street. "Goldman is not the only bank to have sold mortgage-backed securities and then bet against them," the newspaper said. "We suspect that after Friday, others on Wall Street may have a harder time sleeping." As the economy is on the verge of recovering, rightfully usa gov would not do something too drastic to shake the entire financial system, just my opinion, if it can contain at GS alone, then it does post an buying opportunity, also hope that the iceland volcanic ash saga will end quickly, that has caused a serious impact to many countires.

 

On Saturday, The New York Times suggested in an editorial the charges may be just the beginning of a broader government campaign against Wall Street.

"Goldman is not the only bank to have sold mortgage-backed securities and then bet against them," the newspaper said. "We suspect that after Friday, others on Wall Street may have a harder time sleeping."

As the economy is on the verge of recovering, rightfully usa gov would not do something too drastic to shake the entire financial system, just my opinion, if it can contain at GS alone, then it does post an buying opportunity, also hope that the iceland volcanic ash saga will end quickly, that has caused a serious impact to many countires.

 

 

Jchong- Nah! The one who bought Google was Alexchia. I'd have to sell or pawn almost everything I own to purchase that, I'd miss my dog too much. I think the best buying opportunities will be Monday and Tuesday so I'll be keeping an eye out. Cheers.

jchong71      ( Date: 17-Apr-2010 18:52) Posted: Fwah Blackstreams - 1.5 lots of Google? US$775k? :P Big time player siah! Last night's blood bath caught everyone by surprise.....and given SEC's knowledge of bank filing quarterly earnings, they couldnt have timed it better to kill the market's euphoria.....the panic selling across everything was amazing! My entry for SNAK was $2.70, looking forward to the quarterly earnings results next week. I do believe there should be good opportunities to buy on dips next week even as the Sword of Damocles (or in this case GS) hangs on the markets. Good luck to those vested in US!   Blackstreams wrote: Last night's market was the proverbial dilemna wasn't it? Whether it was a good buying opportunity or would we be catching the wrong end of a falling knife? I think the night saw a confluence of three factors that caused hugh profit-taking - 1. GS saga; 2. Options Expiry; 3. Optimistic tide turning. I tried to "put a foot in" first and if necessary, average down/up with my 2nd and 3rd tranches but missed my target prices. (TAT- US$3.65; SNAK- US$2.7). Got my HOTT @ US$8.5 tho but I think it's a bit on the high side. However it's shown a remarkable resilience so I decided to go for it. Alex - Good to see another who dapples in the US markets. BAC's Merrill Lynch acquisition is turning out to be a brilliant move for them. I'll buy in if it drops to around US$17, it's run up too much over the last two months for me. Agree Citi's a bit murky but turnaround's well in progress. I'm waiting to see what Vikram's going to say on Monday before going in for more. Unfortunately for me, I haven't researched into HSBC. Google's a very good buy and the recent China saga has given many investors a chance to go in. But I like to go in a minimum of 1.5 lots each time (1 for investment and 0.5 for the fun of trading) and at US$550+ a share, I'll have to sell my car, my TV, golf clubs and pawn my dog to have cash for the 3 tranches investment method I prefer. Good luck tho. Cheers.

 

Fwah Blackstreams - 1.5 lots of Google? US$775k? :P Big time player siah! Last night's blood bath caught everyone by surprise.....and given SEC's knowledge of bank filing quarterly earnings, they couldnt have timed it better to kill the market's euphoria.....the panic selling across everything was amazing! My entry for SNAK was $2.70, looking forward to the quarterly earnings results next week. I do believe there should be good opportunities to buy on dips next week even as the Sword of Damocles (or in this case GS) hangs on the markets. Good luck to those vested in US!

 

Blackstreams wrote:

Last night's market was the proverbial dilemna wasn't it? Whether it was a good buying opportunity or would we be catching the wrong end of a falling knife? I think the night saw a confluence of three factors that caused hugh profit-taking - 1. GS saga; 2. Options Expiry; 3. Optimistic tide turning.

I tried to "put a foot in" first and if necessary, average down/up with my 2nd and 3rd tranches but missed my target prices. (TAT- US$3.65; SNAK- US$2.7). Got my HOTT @ US$8.5 tho but I think it's a bit on the high side. However it's shown a remarkable resilience so I decided to go for it.

Alex - Good to see another who dapples in the US markets.


BAC's Merrill Lynch acquisition is turning out to be a brilliant move for them. I'll buy in if it drops to around US$17, it's run up too much over the last two months for me. Agree Citi's a bit murky but turnaround's well in progress. I'm waiting to see what Vikram's going to say on Monday before going in for more. Unfortunately for me, I haven't researched into HSBC.
Google's a very good buy and the recent China saga has given many investors a chance to go in. But I like to go in a minimum of 1.5 lots each time (1 for investment and 0.5 for the fun of trading) and at US$550+ a share, I'll have to sell my car, my TV, golf clubs and pawn my dog to have cash for the 3 tranches investment method I prefer. Good luck tho. Cheers.

 

 

Last night's market was the proverbial dilemna wasn't it? Whether it was a good buying opportunity or would we be catching the wrong end of a falling knife? I think the night saw a confluence of three factors that caused hugh profit-taking - 1. GS saga; 2. Options Expiry; 3. Optimistic tide turning.

I tried to "put a foot in" first and if necessary, average down/up with my 2nd and 3rd tranches but missed my target prices. (TAT- US$3.65; SNAK- US$2.7). Got my HOTT @ US$8.5 tho but I think it's a bit on the high side. However it's shown a remarkable resilience so I decided to go for it.

Alex - Good to see another who dapples in the US markets.


BAC's Merrill Lynch acquisition is turning out to be a brilliant move for them. I'll buy in if it drops to around US$17, it's run up too much over the last two months for me. Agree Citi's a bit murky but turnaround's well in progress. I'm waiting to see what Vikram's going to say on Monday before going in for more. Unfortunately for me, I haven't researched into HSBC.
Google's a very good buy and the recent China saga has given many investors a chance to go in. But I like to go in a minimum of 1.5 lots each time (1 for investment and 0.5 for the fun of trading) and at US$550+ a share, I'll have to sell my car, my TV, golf clubs and pawn my dog to have cash for the 3 tranches investment method I prefer. Good luck tho. Cheers.

 

If you are looking to buy BOA, this is an opportunity to buy low.

US and Europe Bank shares are on a running spree since Mid Mar 2010.

Yesterday's US market drop gives us an opportunity to buy the stocks at a lower price.

I brought HSBC and Google shares.

BOA is also in my consideration list, but brought HSBC instead.

I would avoid Citibank for now, they are still in the mist of turning around. Don't know how long it'll take.

 

ya, thought so too but in the end all got pulled down by the GS saga, dropped more than 5%

 

Woo hoo! Bank of America just blew expectations away. Est EPS was $0.09 and actual EPS was $0.28. Banks will be surging. jm2212 must be choking down his dinner with delight.

Stevenk. jchong summarised it well and although I still have to go through the balance sheets in detail, I think this is a worthwhile calculated risk. Both jchong and I visit MotleyFools where fellow investors give their views. Cut out a link for u to take a look. Cheers.


http://www.fool.com/investing/small-cap/2010/03/12/the-next-million-dollar-penny-stock.aspx

 

Hi Stevenk,

Came across TAT on those numerous forums plus one article that was reviewing Soro's portfolio. The balance sheet is robust, but what's exciting is the potential upside for the company. Losses are natural way of life for oil explorations, very costly they are! Its good to have someone with prior industry experience plus deep pockets at the helm of this company (Malone, having sold his biz for $500m to Chesapeake Energy)......so we are very bullish on its prospects. Anyways, one man's meat is another one's poison. To each their own.

 

Hi guys, possible to advise how u get to know TAT? I have seen its balance sheet before...does not really impress me though...thanks in advance...

 

Be careful about CEU man. From what I've read, looks scary. Everytime they promote their company, their share prices drop. Like u said, akin to the pharmaceuticals, need guts to invest when things are murky. Cheers.

jchong71      ( Date: 16-Apr-2010 13:51) Posted: Hey Blackstreams, thanks. TAT -Interesting enough, there was no massive sell down even after they reported the loss for FY2009; but that's to be expected for any new explorations. Certainly, one will have to wait for them to strike it big in Turkey before they rocket.......i am looking for them to become at least $5bn capitalisation in the longer term, not too much to ask is it? LVS - The restrictions on gaming tables will bode well for the existing guys there. I wasnt as fortunate to have entered LVS at your levels, came in at about $10, let it go at about $18 then in/out to play on its volatilty, many heart stopping moments. Finally settled down at about $17 and holding. As for MPEL, it is undervalued, biggest risk of course is that Land of Dreams is the ONE egg in the basket.......but then again, its home to 1.3bn Chinese, how can one go wrong? hahah JOEZ = If you heard the charts analysis at www.thestreet.com ("trades for the little guy"), they've been trapped in the zone from $1.75 to $3.60 for like nearly a decade, so the previous high of $3.60 is to be tested again soon. If it breaks convincingly then the uptrend will continue, failing which it should re-test $1.75-$2. I got in on the high side at $2.98 having thought the sell down (down $0.47 in a day) was the bottom........missed $2.65 bottom instead..ugh. If any small consolation, Crossman came across as candid in the Q&A; either that i am damn gullible and so its liar liar pants on fire. SNAK = One of those small cap sites, cant remember which (InvestorPlace, Motley Fool, Zacks and god knows how many more); the surge came about only in the last 3 days, was trading in the $2.70-$2.90 range for about 1 month before this gap up. Pharmaceuticals - Sometimes its just a real stab in the dark whether the drugs will survive the acid test of FDA; do or die. Not for the faint hearted. Like i said, still plenty of 10-baggers to be found in the whole haystack; just need to spend lots of time to sieve through the mess..........Will continue to pore through the lot; other prospects include XIN, CEU. Cheers! Caveat Emptor.           Blackstreams posted: Many thanks on the recommendations mate. Did some preliminary reading up on your tips and here are some thoughts. TAT- Absolutely love what I see, although the 2 Apr results were not too encouraging and the stock has risen 7% since the 12 Apr announcement about the resource exploration agreement with TPAO. That said, it's been range trading and I expect a breakout only when the remaining Selmo oilfields come online by the end of the year. Malone is an experienced pro and as u said, Soros owns stock. I prefer TAT to KOG. I'll definitely go in at some point. LVS - My favourite and I've been playing it since it was at $3.5. Pondering whether to load up some more if it hits its $20 support. Personally, I prefer the Macao story compared to pure gaming in the US. More growth and less competition (I believe u're aware Macao has capped the number of gaming tables recently and that means new competitiors are goign to find it hard to enter). Hence my investments in MPEL and LVS. JOEZ- I'm a bit uneasy on the expansion by the company into non-denim products, despite the pletora of stars who are regular customers and endorse it. That is because it is out of Crossman's forte and he acknowledges it. That said, this is a gamble and when it shifts its production abroad, the overheads will reduce and this should be able to break beyond the strong $3.2 resistance. I'll only go in if it drops below $2 again. Hope u got it at a good price. SNAK - Another solid recommendation. However, it's gone up too much due to the recent bullishness on retail stocks and I'll go in only when there's a pullback. Damn! This is such a quiet stock I'm impressed u managed to find it. I'll pore through the respective balance sheets over the weekend. Cheers.

 

Thanks, I'll need to hound a banker in Citibank to see if their trading account can do the same. I'm so bullish in Citi that I opened an account in it heh.

jm2212      ( Date: 16-Apr-2010 14:55) Posted: i bought it thru standard chartered bank here. i bought SCB pref share last year and made a good profit within few months + the gain of dividen. these companies usually pay good dividen (range from 6 - 10%) blackstreams      ( Date: 16-Apr-2010 12:23) Posted: Just to check, how did u manage to buy the prudential preferred shares? You using an overseas broker? I was yearning to buy in to the LVS preferred shares but my broker said that his firm, DMG, does not have an avenue to purchase it

 

So? The US Govt is getting every cent back and with a hefty interest earned. Win-win situation for all. Bernanke played his cards right. It's in other firms like Fannymae and Freddymac that the bailouts are probably irretrievable, not Citi.

niuyear      ( Date: 16-Apr-2010 14:10) Posted: US Citi using bail out money from other people's (their tax payer)  money to pay you $12 per share.  blackstreams      ( Date: 14-Apr-2010 23:34) Posted: Touch wood but I don't think $5 is a problem. The number of short sellers have recently dropped dramatically. Predictions for the stock go as high as $12 in 2012. Dividends are also forecasted to rise by the end of the year. That's an opportunity to treble my money in 1-2 years and they're paying me to wait. Cheers

 

glad to see some sharing of valuable info from both of you, thanks.

jchong71      ( Date: 16-Apr-2010 13:51) Posted: Hey Blackstreams, thanks. TAT -Interesting enough, there was no massive sell down even after they reported the loss for FY2009; but that's to be expected for any new explorations. Certainly, one will have to wait for them to strike it big in Turkey before they rocket.......i am looking for them to become at least $5bn capitalisation in the longer term, not too much to ask is it? LVS - The restrictions on gaming tables will bode well for the existing guys there. I wasnt as fortunate to have entered LVS at your levels, came in at about $10, let it go at about $18 then in/out to play on its volatilty, many heart stopping moments. Finally settled down at about $17 and holding. As for MPEL, it is undervalued, biggest risk of course is that Land of Dreams is the ONE egg in the basket.......but then again, its home to 1.3bn Chinese, how can one go wrong? hahah JOEZ = If you heard the charts analysis at www.thestreet.com ("trades for the little guy"), they've been trapped in the zone from $1.75 to $3.60 for like nearly a decade, so the previous high of $3.60 is to be tested again soon. If it breaks convincingly then the uptrend will continue, failing which it should re-test $1.75-$2. I got in on the high side at $2.98 having thought the sell down (down $0.47 in a day) was the bottom........missed $2.65 bottom instead..ugh. If any small consolation, Crossman came across as candid in the Q&A; either that i am damn gullible and so its liar liar pants on fire. SNAK = One of those small cap sites, cant remember which (InvestorPlace, Motley Fool, Zacks and god knows how many more); the surge came about only in the last 3 days, was trading in the $2.70-$2.90 range for about 1 month before this gap up. Pharmaceuticals - Sometimes its just a real stab in the dark whether the drugs will survive the acid test of FDA; do or die. Not for the faint hearted. Like i said, still plenty of 10-baggers to be found in the whole haystack; just need to spend lots of time to sieve through the mess..........Will continue to pore through the lot; other prospects include XIN, CEU. Cheers! Caveat Emptor.           Blackstreams posted: Many thanks on the recommendations mate. Did some preliminary reading up on your tips and here are some thoughts. TAT- Absolutely love what I see, although the 2 Apr results were not too encouraging and the stock has risen 7% since the 12 Apr announcement about the resource exploration agreement with TPAO. That said, it's been range trading and I expect a breakout only when the remaining Selmo oilfields come online by the end of the year. Malone is an experienced pro and as u said, Soros owns stock. I prefer TAT to KOG. I'll definitely go in at some point. LVS - My favourite and I've been playing it since it was at $3.5. Pondering whether to load up some more if it hits its $20 support. Personally, I prefer the Macao story compared to pure gaming in the US. More growth and less competition (I believe u're aware Macao has capped the number of gaming tables recently and that means new competitiors are goign to find it hard to enter). Hence my investments in MPEL and LVS. JOEZ- I'm a bit uneasy on the expansion by the company into non-denim products, despite the pletora of stars who are regular customers and endorse it. That is because it is out of Crossman's forte and he acknowledges it. That said, this is a gamble and when it shifts its production abroad, the overheads will reduce and this should be able to break beyond the strong $3.2 resistance. I'll only go in if it drops below $2 again. Hope u got it at a good price. SNAK - Another solid recommendation. However, it's gone up too much due to the recent bullishness on retail stocks and I'll go in only when there's a pullback. Damn! This is such a quiet stock I'm impressed u managed to find it. I'll pore through the respective balance sheets over the weekend. Cheers.

 

i bought it thru standard chartered bank here. i bought SCB pref share last year and made a good profit within few months + the gain of dividen. these companies usually pay good dividen (range from 6 - 10%)

blackstreams      ( Date: 16-Apr-2010 12:23) Posted: Just to check, how did u manage to buy the prudential preferred shares? You using an overseas broker? I was yearning to buy in to the LVS preferred shares but my broker said that his firm, DMG, does not have an avenue to purchase it. jm2212      ( Date: 16-Apr-2010 10:23) Posted: hi, most of my portfolio is still in SG, currently holding only financial counters (citi, bac, ubs and some prudential pref shares) and tech stocks (yahoo, seagate, wd). not considering to pump more into the market for the next 1-2 month. cheers and good luck in your investment

 

US Citi using bail out money from other people's (their tax payer)  money to pay you $12 per share. 

blackstreams      ( Date: 14-Apr-2010 23:34) Posted: Touch wood but I don't think $5 is a problem. The number of short sellers have recently dropped dramatically. Predictions for the stock go as high as $12 in 2012. Dividends are also forecasted to rise by the end of the year. That's an opportunity to treble my money in 1-2 years and they're paying me to wait. Cheers. jm2212      ( Date: 14-Apr-2010 23:20) Posted: citi has a good run tonight again, let see if it can keep up the momentum till next week's result announcement (1 year high was about $5.4)