Citigroup Inc. (C)

* Morgan Stanley, Goldman Sachs and Wells Fargo are on deck this morning * Will 2021 mark a renaissance for investment banking and for investment bankers MS and GS? * There is an opportunity today to become a "partner" in Morgan Stanley and/or Goldm...

On the opening I added to my , and longs.

* Will be forthcoming... At all times, but particularly during a crisis, circulating bottom-up investment ideas is of paramount importance. Don't get me wrong, a market view is very important - and so is the analytical discussion surrounding that ma...

* On Monday I analyzed/stress tested BAC (my second favorite bank stock on reward vs. risk basis) * Today I look at revised EPS and price target models for JPM and C (my current favorite bank stock) * I continued to add to my money center bank holdi...

I sold out my trading long rental on Penn Gaming  based on the announcement of a refinancing. More later. I added to , , , and this morning.

* Over the weekend I "stress tested" Bank of America's earning projections (and that of the other money center banks) * The Covid-19 inspired recession will result in only about a 5-6 quarter long push back of normalized EPS for BAC * Though earning...

* Before you read this opening missive be sure you understand your risk appetite and profile as well as your time frame * I see a possible "generational" investment opportunity developing and I am now even more aggressively buying for the intermedia...

* Ns over Ss! * The lingering impact of COVID-19 on our behavior helps to explain my large long investments in Google, Amazon and Twitter * Banks were the problem in the last recession, they will be part of the solution over the next few years I am ...

I added to , , , , , , and this morning. A reminder that yesterday I initiated new positions in , , , , and .

I added to , , , , and this morning.

, , , , , , , , , .

"If all we had were roses, would the thorns then be beautiful?" - Grandma Koufax Truths and roses both have thorns about them but patiently travelling and navigating, in a consistent but objective and analytical way (in our markets) often brings on ...

Citigroup is now my largest individual long holding. Down from over $83, six weeks ago (on January 14, 2020), the shares are trading at $63.25/share. Yes, interest rates have dropped precipitously but that is not likely going to be a permanent condi...

I added to the following longs (on the opening): , , , ,  , and .

This morning I moved to medium-sized , , and longs. And I moved back to large-sized on and . I have a busy research schedule today (mostly phoners) but I will outline the case for buying early tomorrow morning.

I have added to  , , , , , longs this morning.

I have moved back to large on and (I have been a scale buyer in both). And my position is now medium-sized (also scale buyer lower).

I have added small to my longs in ($70.55) and ($31.55).

* Risk happens fast - as we now take the elevator down * At 4:45 am S&P futures were -90 and Nasdaq futures were -315 handles * Market structure - in which the majority of products and strategies are bullish and lie on "the same side of the boat" - ...

I thought it might be helpful to briefly summarize some of my more meaningful moves in the market over the last few weeks: * I eliminated Goldman Sachs around $240 (my year end 2020 target price) and reduced the size of my , and longs. Lower interes...

* I am giving the market a wider than usual berth to rally before I reshort "When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you've got to get up and dance." - Chuck Prince (2007) I am qu...