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  • and3001us and3001us Aug 21, 2009 6:22 PM Flag

    *What Happens Monday*

    I don't think it'll sell off, I think it'll continue to rally -- I mean for the C.

    Here's a nice piece from "Fast Money" today: Steve Grasso thinks Citigroup [C] is a BUY but adds “be quick on it.”


    One more push for a tiny 30 cent (already went 4.86) and once above $5, hendge funds start coming in big.

    I'm bullish on this. I had Sept $5 options and Aug $4. Sold the Aug, rolled on the $4 Sept. It's got too much momentum, and if you add the gov sweet deal if this goes above $5, I am confident with this baby.

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    • I completely agree with you "and3001us". Selling off on Monday? Why? Hundred of thousands have lost money in the crash, funds too, and here we the ashes...2 solid stocks in the entire market that are too big to disappear. Why would i sell? i like shorting when things (graph) looks shortable. I think very few serious players out there will do that in the coming days. Selling off C shoud have happen this evening. Did not. Institutions will come in next week. Some will loose their jobs for not having bought at $4.70. That's also the other reason..

      • 1 Reply to gitesbretagne
      • Gite,

        You brought up a key point - "in the coming days", it'n not just one single day. For example, I bought some on 8/7/2009 at the top of the rally, I bought some before that and some after that. However, we were at $2.5 first, then 3.8 became the new reference point, then it took 2 weeks to stay above $4 and break through. So, even in the worst case scenario that some impatient amateurs would sell everything, I'm not worried because in a day or in a week, C will pop again.

        I think we are only half-good day away from 5, and you know what'll happen when we cross it. The same thing that happened when we crossed $2, $4, now $6 and so on. So, a bit of pullback is an opportunity to buy more but this stock has factored in all the bad news that it can but not the good ones that are coming.

    • I saw Grasso and like his calls, however the general market went up to fast this weekend and needs to back off some. Remember last Monday? I still am bullish on C but think it will pull back with the general market. Of course news could change the direction.

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