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Citigroup Inc. Message Board

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  • us_army_airborne_sean us_army_airborne_sean Aug 1, 2009 4:44 AM Flag

    Why you should buy C

    It most certainly *could* dip into the, 2's but the slightest bit of news could also send the boat sailing a way.

    Another poster mentioned recretting selling BofA. I shot myself in the foot bigtime and learned a valuable lesses. I bought in to BofA at 12.12. For the longest time it kept going up and down between high 13's and mid 11's. One day they had a down grade and it started dropping like a rock. I sold at 12.44 (small profit) hoping to buy back in at mid-11's and strengthen my long position.

    I fully intended to hang on to it for longterm, but I got greedy. It dipped into the 11.95 range and I was cheering it down. Then it went up into the low 12's. "Dam" I thought. So, I figured I would just be patient thinking it will undoubtedly touch 11 bucks again. Wrong, look at BAC now.

    I should have just accepted that my original buy price was a fantatic longterm investment and held. It wasn't fear that made me sell, it was greed.

    Moral of the story is timing the market may or may not work out for you, but it's a crap shoot. When Citigroup starts earning profits again +/- 20 cents in the share price isn't going mean much.

44.30+0.17(+0.39%)Jul 22 4:00 PMEDT