Madoff To Plead Guilty, Stocks to Watch Citigroup, JP Morgan Chase, General Electric, General Motors and Morgan Stanley

(NAMC) -  As reported yesterday "The King of all Ponzi's", Bernie Madoff, will be pleading guilty this Thursday related to the largest ponzi scheme in US history according to reports.

Now Madoff is  70 years old and it seems after Thursday he may just spend the last days of his life inside a prison cell. He is said to be poised to plead guilty to about 11 charges of fraud and other related charges, the main confession is his admission of directing the massive fraud.

According to reports the scheme totaled in the vicinity of  $64.8 billion and the US Government will looking for forfeiture from Madoff in excess of $170 billion. He faces 150 years in prison.

Now $170 Million is a far cry from the amount of the fraud which is estimated to be in the $64 billion range, The one question that investors and the financial community have is where is the $64 billion?

Are these answers that the Federal Bureau of Investigation or the U.S. Government will get prior to putting Madoff behind bars or will investors that have lost their life savings just be out in the cold, I guess we'll get more clarity as we get closer to his guilty plea. Keep in mind he may not actually get sentenced for months, so the authorities may still have some wiggle room to negotiate with Madoff to at least give some type of restitution to investors in Madoffs fund(s).

Now to general market insight, the Dow moved into an important range of 6500, you have a number of companies that are trading so much lower than their actual value, so people thats called bottomfishing, yes we may trade up and down in the short term but the following companies that I am going to mention are long term holds, anywhere from 3-5 years.

Here is my list, they are Citigroup, JP Morgan Chase, Morgan Stanley, Bank of America, General Electric, General Motors, Ford, Goldman Sachs and Microsoft. These companies are trading so much lower than their actual value and long term should prove to be a valuable asset to anyone's portfolio.

There will be the biggest transfer of wealth in the United States in the coming years and if you have vision those opportunities will become evident not only in the stock market but in business in general.

Louis Velazquez