After Pandit’s memo about Citigroup (C) being profitable through the first two months of the year, bank stocks are on an absolute tear. Citi’s up 25% (just to $1.32), Bank of America (BAC) is up 20% 27%, and JP Morgan is up 13% 16%. Even GE (GE) is above $8.50.
Is this the shorts, who have been shooting fish day after day, finally getting a massive squeeze?
Overall, the indices are each up well over 3%. up between 5-6%