the performance of citi will largely depend on how European economies perform.so far ECB is running a ponzi like US fed, where they are paying full amount for worthless sovereign debt. they are holding off till German election . Greeks and Italians havent paid any taxes in 2 years..debt have come down due to austherity and nothing else.my 2 cents.
I have lost count on how many times you suspected something, and were wrong. Take a look at Citi stock price today. What do you think your suspicion was worth now?? About as much as your rotten carcass.
Yah...from a trading point of view it's gone from ~$45.50 to ~$53.50 and now pulled backto where it closed today, just under $50.90. Anything under $51 looks like a "gimme" on the long side. Only caveat is the Fib retracements of that aforementioned range show a ~%38 retracement at the $50.34 line....if it were to break that then all bets are off...but this is a one day at a time situation, so let's see how it plays out. Disclosure I went long a trade just under $50.70 so consider the source.
its always good to hear from American citizen..sept mid 50's calls have lowest IV..having said that i would give more weight to what IBD have sugested, sell dec $49 covered calls.as of today trading at $4,when thay had recomended , trading at $6, Bove pumping banks as i type.biggest contrarian!!