This is a coin flip in todays market

Chitty came out of the closet. Actually, it’s more like this: Chitty is a $127 billion company that mentioned they are going to have a garage sale, selling as much as $400 billion in assets. The assets are old though. Really, really old. So Chitty is going to have a meeting today and talk about something, but until that time Chitty has been a little negative pre-market trading. Will it continue? It should, and I’ll tell you why.

I was reading through the Citigroup presentation and on page 12 of 66 I learned about Citigroup’s five distinctive product platforms. They had 2 first place revenue products, 1 second place product, and 2 third place product platforms. Whenever I see a tie, there’s usually not placement in the following position. Like for the Olympics, if there is a tie for the silver, there is not a bronze place also (because bronze is third place and if there are two second places, the place after second is fourth).

I’m not sure what direction Citigroup will be taking, but it should be negative. A lot. It’s threatening to sell assets. Where I’m from, people only sell two things, they are 1) useless stuff the owner has no need for or 2) junk at garage sales that nobody else wants.

Reminds me of a comedian named Rodney Carrington. He has a joke about his wife wanting to try on clothes at a garage sale.

Well, let’s see if I have any account value from Chitty after today’s meeting. You know what I’m hoping for, it would only take a 20% haircut on Chitty to put me in the money. Ya, it sounds like a lot, but there’s been more insane market action than that.