JPM stock prices since Jan 4
44.69-42.85 = $1.84 or 4.3% gain into earnings
JPM right now pps = $43.90 still up 1.05 or 2.45% since Jan 4...profit taking on runup to earnings but still up since Jan 4.
C up 0.03 cents right now
$3.43 - 3.40 = 0.03 or 0.88% rise into earnings
What does that tell you that you should do with C right now? ........Blue
Next Tuesday is bound to be a disappointment, as C suffers from the same issues as the other US banks: if the Govt were to wean them off TARP, they'll all collapse within a few months. US Unemployment problems have just begun, your technology requires China manufacturing, you are no longer respected in the world as you used to be, and C is a perfect barometer of how out of fashion everything American is.
C prides itself on its GTS, but do you know it is the one sector every non-US bank has not gotten itself involved in, as there's no money it.
So, good luck guys, the good times are over for good. C is heading <2 by end of Feb.
Where did you find that C announced that credit card chargeoffs were less in Dec than in November? Link? Doubt it was significant.
Fitch reports credit card write-offs industry-wide up in December after being down slightly in Oct/Nov.
You're still looking at 12%+ writeoffs though. Citibank has huge spreads though having screwed nearly all of their customers with massive rate hikes in advance of the new credit card legislation taking effect.
I suppose their story might be: high write-offs continue, but higher spreads are covering them. Show me a happy Citibank cardholder though.. Short term, they've been acting out of desperation jacking up the majority of their good customers rates -- which would make me nervous about buying this stock at current valuations.
Long term, they are doing serious damage to their card business, which makes me nervous about buy & hold of C.
If it drops in into the $2.50-$2.70 range next week or two, I'd buy, but there is too much uncertainty in the economy & C's business -- so many better places to put your money to work.
Blue, what is the point of your posts.
JPM is profitable, C has not been in 2 years. C has diluted shares 550%, JPM has not. JPM pays a dividend, C does not.
C has to move up strictly on its earnings potential, reduction of losses and future BV