Wake up and sell Citigroup

Here’s what I’m thinking, just correct me if I’m wrong here… The news about C (Citigroup) close to selling $12 billion in loans at a loss isn’t going to push the stock to all-time highs. According to a Bloomberg article, C has the thinnest safety cushion against losses in seven years. C isn’t planning on selling bad loans, they are going to be selling potentially profitable loans. Let’s see if the market reacts accordingly.

I’m not sure the market direction for today. Negative maybe. Maybe.

UPS cut its outlook for the year and quarter and maybe decade and century.
Australian consumer confidence lowest in decade and a half, which should really effect the money producing power of Paul Hogan.
The Fed is considering contingency plans for expanding its lending power in the event its recent steps to unfreeze credit markets fail.
At some point AAPL said everyone in America would own an iPhone and it looks like a good start with 6% of U.S. teens owning iPhones already. Only 94% left Steve!
JPM might have offered $8/share for WM before TPG offered $8.75, I think that JPM is just on a shopping spree.
CC still talking about 4th quarter profits in order to avoid the first quarter loss talk.
Mr. White Folks is defending Richard of MtM, even though MtM is still afraid of comments on his own site.
Boogster shares his story with a dude that had a third leg. I shared a story in the comments in order to try to relate, and last night I had nightmares about it again.
I’m not reporting many trades in the VO recently, but I appeciate the psychic detective of investing not showing me up in the VO.
The market was boring yesterday to one of my heros, though it could have been worse.