Target, Wal-Mart Get in the Spirit

By Jeff Macke  NOV 24, 2008 11:15 AM

Retail opportunities few and far between.


Greetings from New York where I'm getting ready for a day of TV Harlotry and pondering a rally in which I'm not really participating at all, beyond talking about it. Regarding the Citibank (C) deal in particular. I'm not long it, which is good, or short it, which would be horrible. What I am is what I was prior to the deal. I'm confused. I don't understand the deal, don't really see how creating an absurdly complicated solution to a problem created by subterfuge makes "sense" and I don't think it actually solves any of Citi's problems.

My take away is “I really wish I was long Citi stock so I could be dumping it into about the 6 level”. Truthfully, the hardest trade for those newly long Citi right now has gotta be fighting the urge to dump and run as fast as possible. In the case of both Citi and the market rally as a whole, there seems to be more room to the upside but there’s very little actual substance here.

Here’s what else I’m pondering as I get ready to hit the road:

Off to the showers. More in a bit.

Position in WMT

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