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gdoh 03-21-2011 09:21 AM
a 10-1 roll back

for every 10 shares you get 1

4$ - 40$

Carl Johnson 03-21-2011 09:23 AM
C to me is a buying opportunity right now. This reverse split is bullish as more institutional guys come in. Although you could argue nothing has really changed, but I would rather own a $40 stock than a $4 stock.

gdoh 03-21-2011 09:33 AM
Quote:
Originally Posted by Carl Johnson (Post 7354397)
C to me is a buying opportunity right now. This reverse split is bullish as more institutional guys come in. Although you could argue nothing has really changed, but I would rather own a $40 stock than a $4 stock.
do tell why

Carl Johnson 03-21-2011 09:41 AM
Just a personal preference. I've become lot more successful since I moved on from investing in stocks below $5. That is not to say you can't make money investing in those stocks.

highfive 03-21-2011 09:58 AM
Yes above $5 is more bullish to me since a lot of institutional investors can put there money in it. Mutual funds can put money in it.

The thing is how much higher can C go after the reverse split from $44?

I tried to do some calculations and not sure if it's a right way of looking at it. But Citi earned 10 billion last year. Excluding the losses from Citi holdings, they actually earned 14-15 billion. A lot of people expect their normalized earnings would be in the range of 14-20 billion a year. Divide that by 2.9 billion shares, you get a 4.80-6.90 EPS. You give it a 10 PE, it should give you a stock of $48 to $69. I was hoping the money Citi make from now till next year would go towards some stock buy backs.

ilvtofu 03-21-2011 10:54 AM
Quote:
Originally Posted by highfive (Post 7354386)
Citi is planning a reverse 10-1 stock split. Plus a 1 cent dividend in second quarter of 2011.

Anyone know the effects of the reverse stock splits?
Should be more popular to be invested in as their SP is under $5 now, some companies might not want to touch it. But I honestly have no idea, I'm holding a few shares of Citi myself :/

highfive 03-21-2011 03:24 PM
Basically, a lot of mutual funds/institutional investors cannot touch C because under $5 is a penny stock. If C is over that $5 mark, I'm sure there will be some institutional buying since it is underowned institutionally compared to other banks. I think the other banks were 65-70% institutionally owned and C is only 50ish%. Yeah, I'm holding on some shares too. Luckily I bought the majority of it under $4.

Has anyone heard of BXX? The CEO is the same guy for CUU.

ilvtofu 03-22-2011 08:21 AM
Does anyone here day trade ELT? I've been seriously considering it for a while, there cycles are very strange but their SP rarely drops below 0.05 and often fluctuates between 0.05 and 0.06 a few times a week

SiRV 03-22-2011 09:17 AM
Mer jumped 3 cents (25%^) !!! woot $$
Posted via RS Mobile

highfive 03-22-2011 10:42 AM
Never heard of ELT.

When did MER jumped 3 cents? I do notice a big volume buy though.

mr_chin 03-22-2011 01:53 PM
Quote:
Originally Posted by ilvtofu (Post 7355945)
Does anyone here day trade ELT? I've been seriously considering it for a while, there cycles are very strange but their SP rarely drops below 0.05 and often fluctuates between 0.05 and 0.06 a few times a week
I bought some a while back, they get large volumes some days but their SP rarely moves. I was probably in a streak of bad weeks, I bought at 0.075 and i think 2 months later, it fell to 0.06.

ilvtofu 03-22-2011 11:13 PM
Quote:
Originally Posted by aznlangjai (Post 7356311)
I bought some a while back, they get large volumes some days but their SP rarely moves. I was probably in a streak of bad weeks, I bought at 0.075 and i think 2 months later, it fell to 0.06.
Lol I played a very very small amount in fall when it went from 0.03 - 0.06 I sold

HonestTea 03-23-2011 01:09 AM
I'm holding quite a bit of shares of Citi myself, bought most of it when it was under $4 and a few after as it touched $4.

DOHCVTEC 03-23-2011 04:08 AM
Quote:
Originally Posted by suzuka84 (Post 7338638)
I'm a mining guy. I can tell you everything about mining companies and the stuff they have in the ground. I can show you companies with great prospects and low share prices or vice versa. The only thing I can guarantee after doing this for 6 years is to put your money with rainmakers.

LUN will get bought out and in my previous post as the markets are currently behaving irrationally you want to put your money in safe bets for the time being. As we approach the end of the month, their share price will go near the buy out price so you can cash out then or take the shares in the new company. The current bidders for LUN are companies of similar size and as such you would expect a mining giant to come in and outbid everybody to secure it.

LUN has a very strong exploration arm called NGex - look at the website for the company mission statement: No Guts No Glory. It exemplifies Lundin very well.

Has your opinion on LUN changed? I just saw that their board has recommended that shareholders reject the EQN bid. And it doesn't appear like there will be another rival bid coming (no word from FCX etc...).

highfive 03-23-2011 07:54 AM
CUU breaks the $2 mark.

Damn Feds rejected BAC dividend hike. Banks are being punished. I'm going to see how Citi is in its next earnings release. As long as they cut down Citi Holdings ASAP, their earnings will always be dragged down.

suzuka84 03-23-2011 01:00 PM
Quote:
Originally Posted by DOHCVTEC (Post 7357297)
Has your opinion on LUN changed? I just saw that their board has recommended that shareholders reject the EQN bid. And it doesn't appear like there will be another rival bid coming (no word from FCX etc...).
no change whatsoever.

I have close to 20k (purchased at $7.50/share) on this deal so I need them to close with Equinox else a white knight comes to the rescue and blows all parties out of the water with a better deal.

rb 03-23-2011 01:08 PM
what do you guys think about buying into CUU at the $2 price?

highfive 03-23-2011 01:35 PM
CUU - long term wise, it's a good buy. Short term trade - I would hold back a little. But time frame to buy at a low price is getting harder. The resource estimate should be coming out anytime now. And the FS would be out by June.

blkgsr 03-23-2011 03:25 PM
RE is out next week, you want to buy, buy not....it's not going any lower

shawnly 03-23-2011 04:05 PM
And apparently NTL news should be out soon

SiRV 03-23-2011 04:51 PM
Quote:
Originally Posted by blkgsr (Post 7357989)
RE is out next week, you want to buy, buy not....it's not going any lower
Whats the predicted amount it will go up?

iceburner 03-23-2011 06:26 PM
Hey suzuka84, what do you think of MER's board of directors? Does it look like a solid team?

Stormspirit 03-23-2011 07:27 PM
Quote:
Originally Posted by SiR_vfung (Post 7358127)
Whats the predicted amount it will go up?
2.50 after halt hits . $3 shortly after .
Posted via RS Mobile

SiRV 03-24-2011 07:00 AM
Back in to CUU @ 1.94.. 7c's higher than what I sold for last week =(

shawnly 03-24-2011 07:14 AM
COPPER FOX ANNOUNCES STRATEGIC ACQUISITIONS TO ENLARGE SCHAFT CREEK PROPERTY AND PURCHASE OF LIARD COPPER MINES LTD. SHARES

http://www.cnw.ca/en/releases/archiv.../24/c6058.html


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