I have C at 4.40, I can hold it for couple of months (next earning) but it is making me crazy for last few days. Do you think I should not worry about it because it is for long term, I will be happy to get out @ 5. Intelligent Ans only pls. Thanks in advance. I am think of selling 5 covered call to ease some pain.
Can not go below 3.41
4:10 pm CITIGROUP INC C MCQUADE EUGENE M
(CEO, Citibank, N.A.) 1,000,000 $3.41 $3,410,000 1,000,000
1. The USG bought its 34% stake at 3.21 a share
2. Cramer says C is going up big in the next few months as of 10/30
3. Smarttrend said they seen a downtrend coming on C as of 10/25, they are usually right most of the time, how long will that downtrend continue???
4. A 10 Billion writetoff on C might be coming, that is not a positve for next earnings
5. C follows the trends of most of the Financial Sector, doesn't matter what bank you picked this past week, they all went down, not just C, so rather than following C, sometimes its good to follow the sector, which way is the sector going to go, unfortunately it looks like its heading downward.
6. Hoarding Cash(244B), that's a lot of cash, until they place that cash somewhere it has no real shareholder equity. Until that cash is invested its like putting your money in a savings account when you buy the stock, cash doesn't grow without investing it.
7. Feds cutting pay does not do much, but what about the house passing the too big to fail bill? What effect will that have on C? C has already been downsizing, trying to sell off assets quickly to avoid some of the USG concern.
8. Credit card defaults, you know C wants to get rid of its citiholdings division when it broke the company in two. What are they going to do with all those credit card defaults?
9. Currently I hold about 100 options in C, some maturing in March $4, some in Jan 11 5's, and Jan 11 2.50's, and some inbetween. A $1 difference in share price gives quite a swing to the value on options, unfortunately the long term option prices are...well...too cheap. If people really thought that this stock was going up to $6 or $8, why can I buy a $5, 2011 call for about $.62 cents? Should be about $1.40 atleast. The big players in option trading sure aren't buying the options up right now. Just a concern I have.
10. Remeber, a reverse split already has board approval until June, this would boose the overall price beacuse it would allow institutional investors to buy in again.
11. To buy more, to jump ship, I'm going to stay at a hold thru the end of the year right now, I don't think we will see $5, probably get to about 4.50, not to say it won't go lower first though.
Thoughts on this?
We'll sea $4.75 real soon. You day traders seriously need to think about becoming week traders. That is about the longest anybody on this board holds. Other than those who are "old school". Hey, I plan on holding C long, but if I can cycle through it 20 times before it shoots up or goes under receivorship, that is what I am going to do.
Well lets put it this way. C will never see $5 in its lifetime but will see a buck again. Now tell me what you would do? Yes i'm short the stock and if you dont believe me do continue to hold and see where it goes in the days, weeks and months to come.
Wrong, I have sold tons at $5 a few weeks ago I bought at $4.19 and also sold on 50-75 cent swings. Never say "Never"... Like Michael Vick will never play football... the market will never go to 6500. The real unemployment will never go to 18% ... we will never pay $75 an hour to make cars. the dumba$$ union workers at Ford would never turn down a contract... The Romans will never lose power... I think you can take it from here.
All good answers.. What about this and the potential impact on downward pressure?
From September 30 to October 15, the number of short sales in Citigroup (NYSE: C) increased by more than 50% to 178 million, according to Barron's most recent data. Shares in Citi have quadrupled to $4 from $1 since March, but many investors feel Citi's equity is burdened as more loan losses get reported.
Hold it. Get kicked in the nuts for a few months and you will be happy. C is going up this bank is global and very powerfull. Its only a matter of time. Hang in thier...................you will see an uptrend once again. I can say that with 100% confidence because i know its not going bk.
I don't like to reply to people asking message boards for buying decisions of their real money.. but screw it.. if that's how you play the market, read my other post: