Banking Tax...

So with the new day comes news of a “bank tax” to be defined later this month. So because people are easily frightened, my poor Citigroup (C) stocks were down but are coming back (as of post). I am expecting a quick dip now followed by a timid increase, just prior to tax announcement, and then hold my breathe and wait for the fallout of the announcement.

Due to a user error with my Sharebuilder account (ie I haven’t deposited the rest of the cash I promised to this project), I have to hold off on buying my good friend E*Trade (ETFC). I am excited to see though that it has staid relatively constant. E*Trade as you may or may not recall, was not granted money by TARP. This point, I hope, will see to it they aren’t hit too hard by the White House demand for blood (and their money back) from the industry.

So I must wait, wait until I get paid… The next stock on my docket is going to be in a non banking sector, most likely technology. As the good people at Wu Tang Clan Financial always say “you need to diversify your bonds…” I'll just assume they mean stock too.

Initial Balance: $500.00
Current Balance: $490.40
Cash: $366.50
Stock: 35 shares Citigroup $123.90 (as of post)
Total (+/-): $-9.60

-tCT