CIT Forced To Sell Stock To Satisfy Interest Payment, Unable To Do So, Lack Of Interest Confirms Stock Overvaluation

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Tue, 09/01/2009 - 09:44 | 54923 RobotTrader
RobotTrader's picture

Junker Stock Watch:

Tue, 09/01/2009 - 10:14 | 54944 Anonymous
Anonymous's picture

Why don't you post 15 charts in a separate entry so I don't have to scroll through them? Only the CIT chart is relevant to this post.

Tue, 09/01/2009 - 11:55 | 55036 Anonymous
Anonymous's picture

Why don't you suck it up. I like them.

Tue, 09/01/2009 - 12:24 | 55094 DaddyWarbucks
DaddyWarbucks's picture

Oooh! My heart is pounding , my palms are sweating, and I'm panting. Those charts are pure financial porn. Keep 'em coming.

Tue, 09/01/2009 - 14:34 | 55251 hbjork1
hbjork1's picture

Anonymous, 54944

Don't forget FRE and FNM.

Tue, 09/01/2009 - 09:45 | 54924 They steal from...
They steal from us everyday's picture

No reason to panic folks, the good news is that Goldman Sachs swooped in last month and contractually locked up all of the assets of CIT from under the noses of those pesky shareholders. So it is all good!

Tue, 09/01/2009 - 09:45 | 54926 RobotTrader
RobotTrader's picture

Parabolic Screamer Watch:

Tue, 09/01/2009 - 09:50 | 54930 RobotTrader
RobotTrader's picture

Everyone got their rubbers?

Tue, 09/01/2009 - 09:58 | 54936 Fish Gone Bad
Fish Gone Bad's picture

I still have to go to Le Mans.

Tue, 09/01/2009 - 09:54 | 54931 Project Mayhem
Project Mayhem's picture

this situation is hiilarious


btw thx for the hotties once i get forexbot installed i will be rolling in the cash. i heard this attract hot women.

Tue, 09/01/2009 - 09:55 | 54932 Anonymous
Anonymous's picture

Futures indicated stocks would be down. Instead, dip buyers moved in and ran SPY up almost 0.5% in front of the ISM at 10:00. Makes no sense unless you have a good idea ISM will not disappoint.

Tue, 09/01/2009 - 10:03 | 54938 lizzy36
lizzy36's picture

clearly number leaked @ around 9:45am

Tue, 09/01/2009 - 09:55 | 54933 Anonymous
Anonymous's picture

CIT has nothing to worry about. How can you kill something that isn't alive?

Tue, 09/01/2009 - 09:58 | 54935 Hephasteus
Hephasteus's picture

Hal9000: Come on baby needs a new pair of Fusion I/O drives.

Makes sad smiley emoticon to the other computers.

Tue, 09/01/2009 - 10:13 | 54943 Project Mayhem
Project Mayhem's picture


Tue, 09/01/2009 - 10:03 | 54937 Anonymous
Anonymous's picture

CIT needs to do a 1-20 reverse split like AIG. Then the stock can be manipulated higher. Then the secondary can be priced.

Tue, 09/01/2009 - 10:10 | 54941 Anonymous
Anonymous's picture

No Comment :

"Deferring interest payments can help CIT Group continue to reduce its near-term debt burden, furthering its efforts to remain in business after nearly collapsing earlier in the year."

You see it's positive news! - So CIT will rally straight to 100$, they invented institution who can borrow but is no obligated to return debt, Fantastic! This is free market I like, you are free from everything!

Tue, 09/01/2009 - 10:17 | 54945 buzzsaw99
buzzsaw99's picture

They should outsource something to Chindia.

Tue, 09/01/2009 - 10:27 | 54950 Hephasteus
Hephasteus's picture

They should outsource thier lobby to house "lobbyists" in India. Then they outsource thier accounting in "WhereHouses".

Tue, 09/01/2009 - 10:24 | 54947 Anonymous
Anonymous's picture

The markets today remind me of ED-209 in the first Robocop when it falls down the staircase and twitches wildly when it can't get up.

All your machine are belong to broken?

Tue, 09/01/2009 - 10:26 | 54948 RobotTrader
RobotTrader's picture

Better keep an eye on these Psycho Chicks....

Their mood swings tend to lead the overall market.


Tue, 09/01/2009 - 10:33 | 54953 Anonymous
Anonymous's picture

Were there charts in there?

Tue, 09/01/2009 - 11:05 | 54979 max2205
max2205's picture

Thanks for the chart porn!!.... lol

Tue, 09/01/2009 - 23:31 | 55814 MinnesotaNice
MinnesotaNice's picture

I cannot believe that you threw Kathy Lee Gifford in there again... what is your deal with her?

Tue, 09/01/2009 - 10:31 | 54952 Gunther
Gunther's picture

In the case of CIT trading volume and liquidity seem to be two very different animals.

The volume is some million shares a day but CIT can not issue stock to make the required payments. In other words, the market is illiquid.

That means that High Frequency Trading does NOT add liquidity, only volume.

So, what is the justification for HFT besides the profit for the traders?

Tue, 09/01/2009 - 10:37 | 54955 RobotTrader
RobotTrader's picture

A couple of low-grade hookers getting squeezed...


Trading Charts

Tue, 09/01/2009 - 10:45 | 54963 economicmorphine
economicmorphine's picture

If there lobby is so great, why don't they just sell it to the US taxpayer for $500 billion?  Heck, the taxpayer will buy anything.  Obama could even trot Geithner out to explain how we're gonna make a profit on that lobby.  At least 85% of the public, including 100% of NYT reporters, would believe it.

Tue, 09/01/2009 - 15:05 | 55293 SteveNYC
SteveNYC's picture

Hahahaha!! I walk past it daily, not sure what my IRR would be on a $500Bn purchase of purchase of the CIT lobby, but heck, I'm sure it will be negative. Would this be a green shoot?

Tue, 09/01/2009 - 10:48 | 54964 Anonymous
Anonymous's picture

I just bought a ton of calls on CIT and AIG...why? because it seemed like the dumbest thing to do.

Tue, 09/01/2009 - 11:03 | 54976 Anonymous
Anonymous's picture

Thx Robot for the ......err..uh...blowup of your avatar.

It's clear now that she is most definitely sporting a push-up. A more perfect metaphor for this market is unlikely to be found.

Tue, 09/01/2009 - 11:54 | 55035 JET55118
JET55118's picture

I love this. The CIT drama is so fun to watch, keep up the coverage.

Tue, 09/01/2009 - 12:10 | 55041 TopHat (not verified)
TopHat's picture

educate people on how the 401k system has been used to scam everybody since 1982!!

good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions

Tue, 09/01/2009 - 11:59 | 55044 Anonymous
Anonymous's picture

Hey, these charts aren't so bad!

Tue, 09/01/2009 - 12:20 | 55086 Anonymous
Anonymous's picture

1. The guy posting the nude pics should be kicked off. It totally drags down the performance of the rest of the site.

2. Does this constitute a default for CIT, if so what is going on in the credit?

Tue, 09/01/2009 - 19:45 | 55635 Anonymous
Anonymous's picture

there are no nude chics on this page.

i think you should be kicked off for not knowing the difference.

Tue, 09/01/2009 - 19:54 | 55645 Anonymous
Anonymous's picture

Why do the pics of chicks show them with clothes on? Who looks at pictures of girls on the internet with clothes on!?!?

Do NOT follow this link or you will be banned from the site!