Citigroup

Discussion in 'Stock Market' started by Munin, Mar 31, 2009.

  1. Munin
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    Munin VIP Member

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    I yesterday (29/03/2009) bought Citi ("C" on NYSE) stocks at $2.39 and $2.37. I m in it for the long run, what do you guys think of this?

    I m now anxiously awaiting the stress test ...


    [​IMG]
     
  2. Paulie
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    Paulie Platinum Member

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    I don't think it's a good time to get into C yet for a buy and hold, but that's because I think we're going to double bottom in a W pattern before the real bull market starts.
     
  3. Munin
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    Munin VIP Member

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    Maybe I m too optimistic, but I think we re already getting into a bull market.

    the signs I see: we have the highest unemployment peak now behind us, huge raw material stockpiles (low oil prices, low ... prices), people have saved a lot of money and have been postphoning purchases (but you can't keep doing that: at some point you have to start buying), gold price is going down significantly (which means investors are coming out of their save heavens and starting to invest again), first effects of stimulus are getting through, FED and treasury department are in the game and agressively working towards improvement of the market, ...
     
    Last edited: Mar 31, 2009
  4. Valerie
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    Valerie Gold Member

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    You're not alone, Munin!

     
  5. Valerie
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    Valerie Gold Member

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    More from the same article:


     
  6. Valerie
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    Valerie Gold Member

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    :cool:
     
  7. Valerie
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    Valerie Gold Member

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    All that being said, this stock scares the crap out of me! :lol: They're losing money. Earlier this month it was below a dollar. It could easily go back there real quick. Even if you lose just fifty cents, you're losing twenty percent! Of course the loss is not realized until you sell, and you said you plan on holding.

    It just closed below it's 50 day moving average. :eusa_eh:
    Quotes for C - Yahoo! Finance

    I would maybe risk it for a quick flip, but there are better long term holds than this volatile stomach turner of a stock, IMO. :cool: Good luck! Of course if it goes up a dollar, it's a brilliant move, but I would sell on the rally and get into something with solid earnings and a good dividend for the long term.
     
  8. Munin
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    Munin VIP Member

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    for the moment almost all bank stocks scare the crap out of me, especially the ones that say they re going to return the TARP money. Why the hell did they ask for it in the first place if they re giving it away now?

    I have the impression that some banks are saying it just so their stocks can go up, maybe those bankingstocks will fall of a cliff when the stress test comes. I m not worried of citigroup falling of a cliff, the advantage of citigroup is that everyone knows its weakenesses and the stocks will rise quicker because of that (remember march 10? -> article below)

    Dow ends up nearly 380 on Citigroup profit news - Yahoo! Finance
     
    Last edited: Mar 31, 2009
  9. manu1959
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    manu1959 Left Coast Isolationist

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    some of the banks did not ask for the money....it was "forced on them"....wells fargo for one....
     
  10. DavidS
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    DavidS Anti-Tea Party Member

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    I think Obama is going to fire the Citi CEO. Watch what that does to their stock.
     
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