Countrywide

[IIC]

that you did, Doug... that you did. Very nice call.

It wasn't rocket science...I called it the night they bot all those convertible shs.

Now...Why are they doing it???

Market Share...Pure and Simple...Eliminate the competition.

[altria89]

Personally...except for a day trade I wouldn't touch a financial co. now...I've said this before...the worst is yet to come...Best, Doug(IIC)

Thanks for the input.

[New-born baby]

Thanks for the input.

Lots of financial stocks announcing earnings next week--so lookout below!

Watch C. If Citibank disappoints the street, you'll see lots of hard selling.

[IIC]

Who REALLY pays the tab???

http://wallstreetexaminer.com/blogs/winter/?p=1326

[MEA_1956]

CFC or not

NOT ====== XLF would be a safer play, I'm sure there are more ETF in the fin. sector to look at, XLF is just a suggeston to look into.

[New-born baby]

mrmarket and all what do you guys think of Citigroup? I got in at 30 now it went under 27 earlier this week finished today at 28.11. I was under the presumption they will cut dividends and maybe I can buy more at 25. Or would you just jump in now and wait long term? What other financial companies do you guys like as buys in the next 4-8 months?

Chart says C will drop to 22 minus . . . . CFC will go to 0.00 if not bought out.
What is it that Ernie always says . . . oh yeah: its earnings, earnings, earnings. That's what makes stocks go higher.

BTW Doug, you know the credit crisis in 1929 caused a world wide great depression. How severe do you think this credit crisis is? One difference from then and now is that then money was backed by gold; now it is fiat money, and they can print as much money as the paper and ink will allow. However they cannot create faith in people's hearts to accept fiat money for goods and services. So what do you think?

[mrmarket]

For some reason, people weren't taught not to overspend their means. Saving money for a rainy day doesn't seem to click with a lot of Americans. Oh well...you can pay me now, or pay me later.

[IIC]

Chart says C will drop to 22 minus . . . . CFC will go to 0.00 if not bought out.
What is it that Ernie always says . . . oh yeah: its earnings, earnings, earnings. That's what makes stocks go higher.

BTW Doug, you know the credit crisis in 1929 caused a world wide great depression. How severe do you think this credit crisis is? One difference from then and now is that then money was backed by gold; now it is fiat money, and they can print as much money as the paper and ink will allow. However they cannot create faith in people's hearts to accept fiat money for goods and services. So what do you think?

I'm not really a student of the 1929 crash so I cannot talk all that intelligently about it.

I would say depression at this time is far fetched...What I'm concerned about is possible Stagflation...where growth slows and prices increase. Unemployment would also rise to much higher levels and theoretically interest rates would rise after a time.

[IIC]

During the 1930s depression, the Bank of America held the largest private share of California farm mortgages, equipment loans, and advances on crops. When a farmer was hopelessly delinquent in his payments, the banks would foreclose and turn the land over to California Lands, Inc., a Transamerica subsidiary, which became one of the state's largest landowners. California Lands then sold portions of its holdings to agribusiness companies such as Foremost and Hunt Foods. This helped accelerate the change in California from small laborintensive farming to large-scale commercial agriculture.

[New-born baby]

I'm not really a student of the 1929 crash so I cannot talk all that intelligently about it.

I would say depression at this time is far fetched...What I'm concerned about is possible Stagflation...where growth slows and prices increase. Unemployment would also rise to much higher levels and theoretically interest rates would rise after a time.

Stagflation, yes I remember Jimmy Carter very well. However there is a great fear of deflation, like Japan experienced for about 13 years from 1990 on, and perhaps may experience again this year. Both are evil.

[New-born baby]

Usb

CFC is a bankruptcy candidate, but US Bancorp is in fine shape, and is not exposed to the subprime slime, pays a 5%+ divy, is expected to raise the divy in the third quarter, and has been punished by the market simply for being a bank. If you want to buy a financial, may I suggest looking into this stock and forget the wounded ducks.

Having said that, I think you should wait until after C announces earnings. USB may bottom around $24, and I think that is the place to load up on it. IT would be a screaming buy at that level.

[IIC]

Stagflation, yes I remember Jimmy Carter very well. However there is a great fear of deflation, like Japan experienced for about 13 years from 1990 on, and perhaps may experience again this year. Both are evil.

Besides housing...What is falling in price?

[New-born baby]

Besides housing...What is falling in price?

EVERYTHING

[MEA_1956]

Paying more

Out here in the midwest prices are still on the rise, I just pad $1.25 / pound for my half of a beef. Last year we only paid $1.00 / pound. Just received a letter from my siding supplier stating that I shale have to start paying 7% more for all their products. This is their first increase since 2000. Marlin

[IIC]

Quote:
Originally Posted by IIC
Besides housing...What is falling in price?

EVERYTHING

Maybe I buy the wrong stuff...But gas, beer and cigarettes are pretty high priced this year compared to just 3 weeks ago.