Citi will probably go to $9.00+ almost instantly.
When TARP was set up, this was the intent and pushed Citi to $20.00+ before the plan was derailed.
Look for a similar spike from current levels. From November's low, Citi tripled in two weeks.
As long as Govt does not own Citi like FNM, FRE, AIG, there is no doubt that Citi has all the potential to go above 9$ in a very short span of time. This aggregate bank concept will be major boost to the whole bank/fin sector, if this concept materializes. I am looking forward to see rally in the coming week.
Here you have news of the bank you are mentioning
If everything confirms, we have:
- New president on Tuesday.
- Way oversold financial(%30 drop in 5 days)
- one of the highest percentage of open short positions
- The possibility of the creation of the aggregate bank
If you factor all of that, we could have a mega rally next week headed by the financial sector.
Interesting, very interesting. If you connect the dots you could very easily see that V Pandit has started the process within C to downsize ultimately cutting costs and saveing the company many millions in cash flow and setting the company up to be first in line if and when the Federal Government establishes this Aggregate Banking concept. I would expect that C could easily become the Bank of the future setting the trend and leading the financial sector out of the morass. Also be aware that C is the only big bank left who has not bought out or taken another competitor over. This in its self should allow C to become the lead by example Bank rather than try to improve by throwing cash at other toxic institutions. Pay attention people...stay frosty on this one. My opion..C could easily travel up 10 fold from where it is right now in a period of less than one to four weeks.
If Aggregate Bank is created, I will set a bank too, just to sell bad loans to Obama.
It's hard to make good loans, easy to make bad one.
Just another short term band aid, no way that can be sustain
That's what moral hazard is all about, you take care of people with bad judgement and behavior, they will continue their way, until the whole system goes under.
I agree totally. Check reuters for Sat. press release from Obama. Aggregate Bank is coming and will coral troubled assets off banks books. This will send the entire financial sector flying.
I hope Citi will double on Tuesday, i am really nervous i bought 6k stocks on Friday and was unable to sold and now i am reading those split thing that making me real nervous. How soon this split thing will get pass from fed ?. Do you think Citi will double on Tuesday ?