Why C will Follow BAC and Rise To New Heights
I could care less how many stars C has on this site. I care about as much as I did when I loaded up on BAC shares when it had 2 or 3 stars back in March, back when the whole world was going to end and BAC was going to be nationalized, etc. I care so less because I bank at both places. I know them and don't see how such big companies will stay down for long. I don't need balance sheets or people on TV telling me how good or bad they are. I am a customer there lol. It is like the same people trying to talk down on my favorite company in the world ATVI. The same people like Jim Cramer who again (AGAIN!) put a big thumbs down last week when a caller asked about it on the lightning round. Similar thumbs down he put on LVS and all these other stocks, these other stocks like C - which he now is giving a thumbs up. I guess when it was at $1 it was total trash but since it went up a few dollars, it is suddenly a must buY!
If you want to stay behind the line and watch what you could of owned go ahead. But here is my advice. Who would know more about what a company's future will bring more than the company CEO? With that said let's compare my 2 friends that have made me nice amounts of money in short time periods.
BAC: Ken Lewis loaded up on BAC in February for millions of $ when everyone was counting BAC out. It dropped to under $3 and he took the heat. Now look where BAC is.
C: Eugene McQuade just purchased 1,000,000 shares for $3.4 million on August 5th.
Now you can either think C is full of BS and this is a strategy to save face (can't say it hasn't happened before in history), or you can see that they see something no one else sees and that C is going up.
Anyways, I'm a believer just as I was in BAC. The real question is ARE YOU?