S&P To Increase Citi Float Factor After Close, Index Funds Have 374 Million Shares To Buy

Following last night's sale of Citi Treasury shares, we have learned that S&P will increase the float factor of Citigroup in the S&P after the close from 88% to 100%. As a trading desk reports: "We estimate S&P index funds have up to 374 mln shares to buy today (~89% of ADV), assuming no offer participation. S&P 500 indexers have a large funding trade to fund the C buy ($1.7 bln SPX for sale)." In other words, expect some substantial fireworks, especially if State Street joins in the fray once again and make the stock HTB at tactical times during the day.

Comments

[bob_dabolina]

Shananigans.

[NoBull1994]

haven't seen my boy Vikram bidding for shares lately for his p.a....

[SheepDog-One]

Damn all these bastards to hell.

[Calvin Jones an...]

Is that right?  Has C traded almost 2 billion shares alone today, already?

[bob_dabolina]

No. That's actually an optical illusion created by light reflecting off of some trapped swamp gas.

[Harry Hood]

MIB, nice

[Joe Davola]

Will overflow long int soon, hopefully the programmers bought themselve some time by using ulong's or went directly to double's.

[Mr Lennon Hendrix]

Majors are spinning their wheels getting out of the paper trap, which makes great cover for Blythe to do her dirty work.

Midnight Metal Report

Things are looking better for PMs than I thought at this stage.  Silver is very strong, gold is strong, and platinum made a comeback, as I said it would previously (I hinted it would flash crash, which is common for platinum to do at least once daily-it did it twice today- even thought the second flash crash was not uniform).

I still say we dive to support at $1400 during NY trading tomorrow, but...there are so many swans...the whiteness is blinding.

http://lhmarketwatch.blogspot.com/2010/12/midnight-metal-report.html

[kentfinance]

yes. 1.8 bln

sliver, gold whack a doodle doo also, btw

[skyr191]

The Bernanks fat finger?

[EscapeKey]

BoA have settled with the SEC. No doubt it involved $10m, a stack of kleenex boxes, and absolutely no admission of guilt.

[RobotTrader]

As I predicted yesterday....

Massive rotation out of gold and into other beaten down sectors today.

[Spalding_Smailes]

Robo ~

Silver chart today. Your the only guy that will post it .... Lol'

[Mr Lennon Hendrix]

Silver is just below its three day average.  Buy territory, in time for the Bank Run to turn into a silver run.

Buy Silver!

[MarketTruth]

Buy silver, buy the fucking dip!

[ZeroPower]

How the hell do you propose a stock is HTB with a 20+Bn float and about .5Bn ADV ?

[monkeyshine]

That's what i want to know about it.

[SDRII]

C also annoucned today the expansion of 100 branches in China along with their Euro rebranding campaign. C is a national champion.

[Joe Davola]

374 million to index funds

Is this an indirect govt grab of 401k dollars

[TooBearish]

I suspect they will not have a problem buying the size they need