Posted on 03/11/2009 9:16:20 AM PDT by DecoyJames
“Based on historical revenue and expense rates, Citi’s projected earnings before taxes and one-time charges would be about $8.3 billion for the full quarter.” (emphasis added)
http://www.politicallore.com/economy/the-citi-that-never-sleeps-on-spin/606
(Excerpt) Read more at politicallore.com ...
That makes sense. Sell quick on the dead donk bounce.
Some people trying to make a fast buck
Hmmm... the bankers are learning from their Authoritarian allies in government.
C 1.53 +0.08 (5.52%)
Funny, I said yesterday that somebody at CITI was lying.
Damn I am good!
Gunner
I didn’t believe it anyway yesterday.
Shocker. I wouldn’t be surpised if the hype was his escape pod to unload the rest of his worthless stock at slightly less of a loss.
Experts tell CNBC the Citigroup memo may have been misunderstood and banking stocks are still risky.
Citigroup's Profitability in Question
A memo by Citigroup's CEO that the company is doing well this quarter may be misunderstood by the market, says Jeff Fisher, senior analyst at The Motley Fool. He tells CNBC that it is a "shade of grey" as to whether the company will really be profitable.
The power of the pen.
Good analysis.
If true, the jump in the stock market yesterday was based on smoke, mirrors and bs.
makes the Warren Buffet interview even more of a pump and dump scenario.
The jump in the market was due to (mostly) a discussion by the SEC, Congress, and FASB to suspend mark to market. That was what the insiders were looking at. The presstitutes were screaming about citi’s phantom two months of profit. The insiders are anticipating that the banks can stop writing off their toxic assets for a while and keep some regulatory capital. That’s whay the bank stocks went through the roof yesterday, not citi’s BS.
Most gains in the stock market are based on smoke and mirrors these days Grampa D, “earnings ratios” are merely quaint reminders of times past and hype and opinion are the driving force behind the markets.
I would be willing to bet that even now, stock values are still way above a historical norms.
This link is a very scary find.
If Citi’s CEO’s internal memo was leaked to drive the market up, someone should be going to jail for fraud.
Do you do anything on FR other than promote your site, http://www.politicallore.com ? That’s all you’ve done since you joined FR a few months ago. I see you’re soliciting ads for your site on the following marketing sites:
http://forums.digitalpoint.com/showthread.php?t=1254094
http://forums.digitalpoint.com/showthread.php?t=1250623
http://marketplace.sitepoint.com/listings/59478
... and FR is helping you drive up traffic so you can make more profit. It’s not cool to use FR for your own profit, DecoyJames.
And maybe cut down on all the exclamation points and vulgarities, too, yeah?
today on CNBC all the experts were saying beware the bottom blip.
The market will drop again, the bottom has to be repeately tested.
Just wait to see if obama speaks again. Notice how the rich old white guy surrogates go out and speak and the market goes up.
Now the WH has surrogates going on the financial channels and being smiley face goebles about the messiah’s amazing pork-o-rama.
The markets are self correcting and the obamacrats are trying to jump in front of the parade. See Obama stopped man made solar eclipsing.
Quaint reminders for quaint old investors like me. lol
Thanks for the warning re Zer0’s smiley face liars on tv.
I have about given up on Fox because with their fair balance bs, they have so many of these smiley face liars for Zer0.
I said this yesterday that they were circulating rumours before the actual reports came out showing true gains/losses so *some* people could sell at a higher price.
Citibank, Bank of America , HSBC Bank USA , Wells Fargo Bank and J.P. Morgan Chase reported that their “current” net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — surged to $587 billion as of Dec. 31 . Buried in end-of-the-year regulatory reports that McClatchy has reviewed, the figures reflect a jump of 49 percent in just 90 days.
I don't even follow the market and I could see that. With every bounce in the last three months, there's been some discussion of suspending mark-to-market rules in some official capacity. The press hasn't reported it once (the lone exception being Jay Nordinger on NRO last month).
Those exposures were footnoted because they have’nt been realized...yet. Whether they ever will be is the real $6.4 Trillion question.
Markets hate the unknown, so all the financials are ripe for another hammering at any time. If I were a betting man, I wager BofA, Wells, and JP make it. The other two...no.
You know, earnings, expenses, market share, those once useful yardsticks now the wistful reminders..
The usual suspects----crooks on Wall Street would throw their own mothers off a cliff to make a buck.
Would not be surprised if “Doogy” Geithner had a hand in this scam.
Someone like little robby rubin
If this was a plot by Citi or others to drive up C/Citi and the Dow. Those involved need to become cell mates of Madoff.
Recently, Steve Jobs at first denied that he was ill. Apparently he and his lawyers were told to tell the truth. He admitted he had severe health problems, and Apple stock took a hit.
After 9/11, we were showered with false reports of acts of terrorism on CNN, CNBC, MSNBC and many of the left owned/controlled financial new outlets.
The markets would react and subtract several % points after these phoney news alerts came out. Then in a week or so, they would go back up.
The pattern was so obvious, that even an old rookie non Wall Streeter like me cracked the code. I started buying ETF’s after the bad new/lies hit. Often that insured a 3-6% gain in a week or so after the rumors were proven wrong. If I had been an insider, I could have sold these ETFs a day before or an hour before the lies were released and then bought them a week later to double the book profit.
They’re visceral liars——so used to lying, they lie even when there’s no need to lie.
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