Buy Citi tomorrow

[NOBama]

I doubt it was Paulson (he'd have to be mad to try it)

Exactly. Conversely, I can't imagine some Hedge Fund manager buying a big lot like that without knowing SOMETHING.

 

[DavidS]

Whoever bought the 12,800,200 shares of C at the closing bell on Friday will be a happy camper today. If it was me, I'd sell that pig today because, the entire 700B$ bailout allotment wouldn't be enough to save this POS, IMO.

You don't sell citigroup until the end of the day. It's up 60% in pre-market trading right now to $6/share. It could jump to $9-$10/share. Then you sell it because god knows what will happen tomorrow.

 

[NOBama]

I'm already in. 1000 @ $5.85 this AM. I have no faith in this POS but, it's worth a small bet today.

 

[DavidS]

I'm already in. 1000 @ $5.85 this AM. I have no faith in this POS but, it's worth a small bet today.

Good luck to us!

 

[NOBama]

I got out @ 5.98. C is a POS.

 

[Toro]

and all this corporate bailout is fine with Obama ?

Considering that Bush, the GOP and Wall Street has done more to advance socialism in America than the socialists, then why wouldn't it be fine?

Stocks are cheap.

 

[DavidS]

Damn. I really thought Citi was going to explode today.

 

[dilloduck]

Considering that Bush, the GOP and Wall Street has done more to advance socialism in America than the socialists, then why wouldn't it be fine?

Stocks are cheap.

Well he DID make a few claims about corporations not running America on his watch.

 

[usmbtech]

Damn. I really thought Citi was going to explode today.

Are you still holding?

 

[Paulie]

Damn. I really thought Citi was going to explode today.

Why? Simply being injected with inflated cash and guaranteed by a worthless institution like the FDIC isn't exactly a bastion of fundamental greatness.

The market is WAY smarter than the government seems to think.

 

[NOBama]

The market is WAY smarter than the government seems to think.

... most of the time!

There was a pretty good chance of a herd mentality developing today but, by 11AM or so, I gave up on it. No regrets.

If shoots up to $10.00 tomorrow, I might change my mind on the regret thing but, I won't lose any sleep worrying about it tonight.

 

[Paulie]

... most of the time!

There was a pretty good chance of a herd mentality developing today but, by 11AM or so, I gave up on it. No regrets.

If shoots up to $10.00 tomorrow, I might change my mind on the regret thing but, I won't lose any sleep worrying about it tonight.

Bailouts are losing their luster. I highly doubt that traders are going to fall for it any longer.

I'd be more inclined to stay FAR AWAY from anyone receiving one.

 

[DavidS]

Are you still holding?

Yes, but if it doesn't hit $9 by the end of the week or it drops below $5.50, I'm selling it.

 

[DavidS]

I got out @ 5.98. C is a POS.

It's at $7.33 right now... up 20%. I'm staying in for the long haul.