MTLQQ and Citi - Investing -stocks, bonds, mutual funds, trading, market, brokers... - Page 2 - City-Data Forum

Jason28 · 05-24-2010, 07:35 PM

I got a few august call options on BAC but I may dump them for a small loss and just keep shorting the hell out of BP. Not sure what the American banks are going to do short term but I can't see anything giving them a jump up until earnings. I think BAC's earning is July some time for 2nd quarter. Can't see much raising them unless the Euro stops bleeding. Regardless, I highly doubt BAC goes above 20 dollars per share anytime this year. There are higher risk plays right now with potential much larger payoffs like C(citi) and S (sprint).

evilnewbie · 05-25-2010, 08:42 AM

Quote:

Originally Posted by Antlered Chamataka

I dumped MTLQQ at 60 cents. No profit no loss

I have some shares lying stagnant on various IPOs which don't look like they are improving.

In the meantime, I'm thinking about buying 800 to 1000 BAC shares. Thoughts?

What's everyone thinking of Bank of America?

I still can't believe you bought MTLQQ... in fact, I can't believe anyone with a heartbeat would buy MTLQQ shares...

jhtrico1850 · 05-25-2010, 10:27 AM

With a short, I believe you can theoretically lose an unlimited amount...

Bank of America is too big to fail, so it's a good long term bet I guess.

The market continues to drip drip drip. I am waiting for that Lehman position to get in. I have my eye on Discover Financial, low P/E, good product, seems like an okay financial position.

Currency Pair Crocodile · 05-25-2010, 04:19 PM

Quote:

Originally Posted by Jason28

I got a few august call options on BAC but I may dump them for a small loss and just keep shorting the hell out of BP. Not sure what the American banks are going to do short term but I can't see anything giving them a jump up until earnings. I think BAC's earning is July some time for 2nd quarter. Can't see much raising them unless the Euro stops bleeding. Regardless, I highly doubt BAC goes above 20 dollars per share anytime this year. There are higher risk plays right now with potential much larger payoffs like C(citi) and S (sprint).

In the interim, I did put some money on CPSL and NEP. I'm closely watching for BP right now.