Credit Card Forum
  1. #21
    AnthonyBarone
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    Dropped another buck today. I swear the market has no common sense left anymore buying into all of this fear frenzy selling.
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    Reply With Quote Reply With Quote     Nov 18, 08, 1:48 pm
  2. #22
    AnthonyBarone
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    Had to sell my Discover today. It dropped so low there was a margin call on the damn thing. I tell you this is the worst it's ever been. Citi is looking like is looking real bad too. Those sons of bitches had their stock going down 20% each day this week. If you got a Citi credit card you may want to cash out points to play it safe.

    Better have cash hoarded in the mattress then in this market.
    Last edited by AnthonyBarone; Nov 20, 08 at 9:59 pm.
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    Reply With Quote Reply With Quote     Nov 20, 08, 9:55 pm
  3. #23
    AnthonyBarone
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    This week is gonna be something cooking with financials. Citi is either going to go BK, bought out or bailed out. I think they are who drove down my Discover and the rest last week. Mark me word something will be going on with Citi this week.
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    Reply With Quote Reply With Quote     Nov 23, 08, 1:33 pm
  4. #24
    JG7
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    I saw tonight the latest news on Citi was that the government would cover their losses above a certain amount. Were you talking about that?
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    Reply With Quote Reply With Quote     Nov 24, 08, 12:28 am
  5. #25
    fffresh
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    You were right about a Citi bailout Barone.
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    Reply With Quote Reply With Quote     Nov 29, 08, 6:20 pm
  6. #26
    marketexpert
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    Discover Financial Services stock price is on the way to recovery.

    The new cash infusion from the Visa and Mastercard antitrust settlements will bolster their reserves to cover delinquencies.

    Expect Discover to be $15 to $20 within the next 12 months...
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    Reply With Quote Reply With Quote     Nov 30, 08, 12:42 pm
  7. #27
    AnthonyBarone
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    Discover is back in the crapper today down 8%. Dow down 680 points so what can you do.

    I'm thinking about switching over my money and plowing it into big oil now. That's gotta be the only safe thing in this damn chaos. Exxon Mobil is still at the same price it was 4 months ago.
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    Reply With Quote Reply With Quote     Dec 1, 08, 5:40 pm
  8. #28
    marketexpert
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    Discover Financial Services has a number of positive qualities in light of the market turmoil. Reconsider before buying into energy which is still historically high. Due to weakened demand and new technologies it may not be the way to go at this time.

    CHICAGO (Reuters) - U.S. credit card write-offs will continue to increase in 2009, tracking roughly with the rising unemployment rate, the top executive at Discover Financial Services said on Tuesday.

    Nelms said Discover's charge-offs are "very favorable compared to the industry" as a whole, and below the "unacceptable" levels logged during the 2001 to 2003 economic slowdown and aftermath.

    Nelms said Discover has the lowest concentration of card holders in areas especially hard hit by mortgage foreclosures, such as California and Florida.
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    Reply With Quote Reply With Quote     Dec 2, 08, 4:48 pm
  9. #29
    JEFF COGA
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    Stay away from financials unless your shorting with SKF...

    Other than that... get into gold (physical not paper, if you can get your hands on it...MHO)
    Jeff Coga
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    Reply With Quote Reply With Quote     Dec 3, 08, 4:08 pm
  10. #30
    Cucumber
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    American Express and Discover Financial Services are Motley Fool Inside Value recommendations.
    That's from today..... money money money!!!
    OBAMA
    Stop talking crap about him!
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    Reply With Quote Reply With Quote     Dec 5, 08, 1:57 am
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