CS In The Media

Media Coverage of ChartingStocks.net

2/20/2009 Wall Street Journal:

Bank of America Corp. (BAC) and Citigroup Inc. (C) led the financial sector down further in early trading Friday, as fears the big banks may need to be nationalized continued to spread…

Technical analysis site ChartingStocks.net said late Thursday that Citigroup and Bank of America “won’t live to see May” and will be taken over by the government within the next 60 days. The site said in the late-Thursday posting that an announcement could come as soon as Friday night.

ChartingStocks noted that the government has already committed half a trillion dollars to the two firms, “which is more than 10 times the amount it would cost to buy and control both companies. The market doesn’t believe that $500 billion is enough to save these companies. All the king’s horses and all the king’s men can’t put Humpty Dumpty back together again.”

2/20/2009: Schaeffers Research

Wall Street is panicking once again that Citigroup Inc may be nationalized, along with its Dow peer Bank of America (BAC). Dow Jones traces today’s pre-market hysteria back to ChartingStocks.net, which claimed last night that “Bank of America and Citigroup won’t live to see May.”

2/20/2009: Dow Jones News Wire:

Debate over nationalization is becoming a crowded theater,
and technical analysis site ChartingStocks.net stepped in and shouted “Fire!”
last night, predicting Bank of America (BAC) and Citigroup (C) will be
nationalized within 60 days and an announcement may come as soon as tonight.
Bank of America and Citigroup won’t live to see May,” the site told its
readers, saying the new lows in both stocks could create bank runs, and that
Greenspan’s recent comments that nationalization is “the least bad option”
show policy makers are considering it. Citi down 12% premarket to $2.21; BAC
off 6.9% to $3.66. A source familiar with the situation says Citi isn’t in
“any unusual discussions with the government.” ** BAC not immediately available
to comment. (EBW)

**2 days later it was announced that Citi was indeed in talks with the government in a deal that would involve the US government buying up to 40% of the companies common stock.

2/20/2009: The I.N.N. World Report

“ChartingStocks.net predicts  Citigroup and Bank of America won’t live to see May. The government will take them over within the next 60 days. ChartingStocks  warned of the coming stock market crash, singled out Bear Stearns , Merrill Lynch… The US government has  committed half a trillion dollars to these two firms which is more than 10 times the amount it would cost to buy and control both companies. “

Legal Disclaimer All stock price information provided by Charting Stocks is for informational purposes only and is not intended for trading purposes. Neither Charting Stocks nor its affiliates guarantee the accuracy, completeness, or sequence of any stock price information or other data displayed or in the transmission of any stocks price information or data. The stock price information is not to be relied upon for trading, business or financial purposes and Charting Stocks and its service providers are not liable or responsible in any way for any damages, losses or costs arising from the reliance of this information or incurred as a result of the non performance, interruption or termination for any reason whatsoever of the stock price information provided. It is urged that you consult with your financial professional before making any decisions related to buying or selling securities.