DOW is up 300.

[kmitchell]

Just scrounged up $200 of tip money, and put it in on Citigroup (C). I bought it at $1.71, if it ever gets back to $10/share within a year or two, it will be a $970 profit. If I lose $200, oh well.

[Morgan]

http://www.thedailyshow.com/video/index.jhtml?videoId=221516&title=jim-cramer-unedited-interview

In case you've missed the Jim Cramer interview on The Daily Show

[dr3z]

Just scrounged up $200 of tip money, and put it in on Citigroup (C). I bought it at $1.71, if it ever gets back to $10/share within a year or two, it will be a $970 profit. If I lose $200, oh well.

As long as you have 0 debit. I see no issue with that. And 10, IF everything goes back to where it was 30-40 is more like it. Granted that would take
> 10 years.

[dbucfan]

What will come first, 8000 or 6000? I'm pissed, I was going to put $100 on Citigroup and $100 on Bank of America today, and ride it out for years, but they both went up a huge percentage today.

Your ME stock is up to 7.58 a share.   That's only about 4 less than you paid per share.   It seems the market has quite a way to go to reach anywhere near a break even point.   I'm not sure why ME is doing so poorly.   It used to mirror another stock I like to buy.  But that other stock is now 10.50 a share while ME is 3 dollars less per share now.  Something bad is going on with ME.

Thanks for reminding me! I always check my etrade account when I wake up, and at 1pm. I'm not sure what their problem is, but they better fix it. I'm in no hurry though, I'm still 21.

That explains so very many things.  Good luck young man.

[dr3z]

Just scrounged up $200 of tip money, and put it in on Citigroup (C). I bought it at $1.71, if it ever gets back to $10/share within a year or two, it will be a $970 profit. If I lose $200, oh well.

read....
http://www.thestreet.com/story/10471528/1/stocks-under-10-avoid-citigroup.html

[TheGladiator]

Nice week for the bulls.  It may be "Get Shorty" time again soon...

[kmitchell]

Just scrounged up $200 of tip money, and put it in on Citigroup (C). I bought it at $1.71, if it ever gets back to $10/share within a year or two, it will be a $970 profit. If I lose $200, oh well.

As long as you have 0 debit. I see no issue with that. And 10, IF everything goes back to where it was 30-40 is more like it. Granted that would take
> 10 years.

$30-$40 per share would be nice. I think this will be the best $200 I have ever spent. If it drops, I will not sell it, even if it drops to next to nothing. The risk/reward for such a small amount of cash invested here is great IMO.

[Morgan]

Good luck - because if you're making investmet gains, that'll mean we all are and the economy is recovering from the recession. Sounds like we've not seen the last of the mortgage problem facing today's banks, so it may be awhile until you see any results from your gamble.

[kmitchell]

Good luck - because if you're making investmet gains, that'll mean we all are and the economy is recovering from the recession. Sounds like we've not seen the last of the mortgage problem facing today's banks, so it may be awhile until you see any results from your gamble.

Thanks buddy. I checked the citigroup site and read the letter the CEO gave to the employees, and it seems like this company is already on the track to recovery. Hopefully he isn't just lying to raise the value of their stock. We will know for sure on April 17th when they give their quarter results.

[TheGladiator]

Good luck - because if you're making investmet gains, that'll mean we all are and the economy is recovering from the recession. Sounds like we've not seen the last of the mortgage problem facing today's banks, so it may be awhile until you see any results from your gamble.

Thanks buddy. I checked the citigroup site and read the letter the CEO gave to the employees, and it seems like this company is already on the track to recovery. Hopefully he isn't just lying to raise the value of their stock. We will know for sure on April 17th when they give their quarter results.

Yeah, that's "blowing sunshine" by the CEO...

BUT, like you said, you've defined your risk ($200) and your reward could be great years down the road.   

[TheGladiator]

interesting prediction...drop 25%, then rally to 825 on S&Pby the end of the year?  (doubtful)


 

 March 13 (Bloomberg) -- The Standard & Poor’s 500 Index may fall 25 percent in the next few months as earnings slump for a seventh quarter and the recession deepens, Morgan Stanley said.

The New York-based bank also reduced its year-end S&P 500 forecast by 15 percent to 825, joining four other Wall Street firms that cut their estimate in the past three weeks as stocks tumbled. The average year-end prediction for the S&P 500 is now 983, compared with 1,078 at the start of 2009, based on a Bloomberg News survey.

“The valuation must become outright ‘cheap,’� wrote Jason Todd, Morgan Stanley’s interim replacement for Abhijit Chakrabortti, who left the U.S. equity strategist job in January. “We are not there yet.�

U.S. stocks are still expensive even after the S&P 500 dropped 52 percent in 17 months, according to a method used by Benjamin Graham, the father of value investing and mentor of Warren Buffett. He measured equities against a decade of profits to smooth out distortions, a method that shows the S&P 500 traded at 14.5 times earnings yesterday, according to data compiled by Yale University Professor Robert Shiller. At the bottom of the three worst recessions since 1929, the average ratio fell below 10. To reach that, the S&P 500 would have to sink more than 30 percent.

Plunge to 560

Should the S&P 500 follow Todd’s forecast, the index would tumble to 560 and then surge 47 percent to finish 2009 at 825. Wall Street equity strategists lost credibility last year when none predicted a down year and the average forecast was for a gain of 11 percent, according to data compiled by Bloomberg. The stock index plunged 38 percent, the steepest decline since the Great Depression.

Strategists at Barclays Plc, UBS AG, Credit Suisse Group AG and Goldman Sachs Group Inc. have reduced projections this year as the worsening financial crisis drove the S&P 500 to a 17 percent drop in 2009. On March 9, the index slid to the lowest level since September 1996.

“Throughout 2008 we were continually caught out by underestimating the size of markdowns and provisioning for the financial sector,� Todd wrote in a report dated yesterday. “We were bearish but not nearly bearish enough.�

Home prices need to stabilize, financial firms must report smaller losses and earnings at U.S. companies have to improve before Morgan Stanley becomes more bullish on equities, he said. American International Group Inc. reported a $61.7 billion loss, the biggest in U.S. history, last week and U.S. foreclosure filings climbed 30 percent in February from a year earlier, RealtyTrac Inc. said yesterday.

The S&P 500 fell 0.4 percent to 748.11 at 11:33 a.m. in New York today.

[John Galt?]

Good luck - because if you're making investmet gains, that'll mean we all are and the economy is recovering from the recession. Sounds like we've not seen the last of the mortgage problem facing today's banks, so it may be awhile until you see any results from your gamble.

Thanks buddy. I checked the citigroup site and read the letter the CEO gave to the employees, and it seems like this company is already on the track to recovery. Hopefully he isn't just lying to raise the value of their stock. We will know for sure on April 17th when they give their quarter results.

LMAO...

Was it something like:

Dear Shipmates,

In order to make your voyage more pleasant, we are flushing the bilges and all the decks with seawater. Contrary to some rumors we are not sinking, we are in fact using natural ocean water to make the ship cleaner and better. And to increase efficiency we are flushing all the decks at once. Once completed our ship will be **CENSORED** and span.

Yours Truly,

Capt. Edward J Smith


PS: Does anyone know how to fix a bilge pump?

[kmitchell]

Looks like I'm up $76 in 1 day!

[kmitchell]

Just scrounged up $200 of tip money, and put it in on Citigroup (C). I bought it at $1.71, if it ever gets back to $10/share within a year or two, it will be a $970 profit. If I lose $200, oh well.

Genius!

If you sold it for a profit, great move. Might want to take advantage of this dead cat bounce and take your profits. At least put in a stop.

Thanks for the advice. I'm going to put a stop at $2.10. I'm just trying to figure out how to do that on Etrade.

[JavaBuc]

Looks like I'm up $76 in 1 day!

ME is only at 7.66 right now.   You are still way down.