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Saintjames 08-31-2009 03:20 PM

$C - Citigroup Inc.
Well this forum needs a thread for C so here it is. I have labeled this a WATCH because I think C is heading for a slight retrace this month, and I don't currently own any shares.

Current price $5.00. Anywhere below this is a screaming BUY according to many people I ask. Think BAC or AIG but not as juicy. Most analysts have a 12 month target of $8, but I think that is a very conservative estimate. $15-20 is certainly possible, but it hinges on many factors, not the least of which is paying back the TARP money.

Now keep in mind that C has very bad books and the outlook on banks through Sept expects to be bleak as they have already rose 100% in many cases. Also worth mentioning is that C is 36% owned by the federal govt. Seems fairly safe long term you would imagine if even the feds are waiting on the share price to rise?

I found this seekingalpha article interesting on Citi's curious 'Special Asset Pool': Citi's 'Special Asset Pool' Is Actually Toxic -- Seeking Alpha

...So what do SR readers think about C? [bear] or [bull]

andre3k1 08-31-2009 03:51 PM

what do I think? I think it was one of my best purchases.

I'm riding on free shares right now. Will post a more detailed post a bit later. I'm off to grab some food now, but if this drops into the 4.90 range I would pick some shares up if you have none.

IMO, this company has serious potential.

Saintjames 08-31-2009 05:18 PM

C stayed flat at $5 all day pretty much. Another possible indicator we could still get a low $4.xx buy in: Citi investors should take profits: Barron's | Markets | Hot Stocks | Reuters

teenwolf41 08-31-2009 10:46 PM

You are defiantly going to see profit taking in the financials at some point. C, BAC, AIG, FRE, FNM are up huge on a % basis compared to the rest of the market. I had C at $2, sold it all at $4 and can't believe its at $5, I feel like I missed it, but I'm more comfortable in BAC around $16.

Siforus 08-31-2009 11:20 PM

Well it's about time
Been buying and selling this since 3.77
Gotta have money to live so own 930 @ 4.50 now
Don't shoot me but I copied this off the google finance.......................:-o

I did my homework: The 4.00 barrier was as exciting for all the C
holders (long and day trading holders) as was the 5.00 barrier. Here
is a comparison of what happened before and after both barriers were

August 12: Strong push towards 4.00 (Low 3.73, Close 3.99)
August 13: Broke 4.00, stayed Low 4.00's
August 14 (FRIDAY): Open 4.16, reached post march High of 4.52, Closed
4.04 (lower than opening)

August 17 (MONDAY): PROFIT TAKING DAY: Open BELOW 4 (3.87), low 3.8,
horizontal run closed at 4.00.
August 18 (TUESDAY): Here we go again, Open ABOVE 4 (4.07) STAYED IN

Now check this out:
August 27: Strong push towards 5.00 (Open 4.73, Close 5.05)
Augsut 28 (FRIDAY): Open 5.29, reached post march high of 5.43, Closed
5.23 (lower than opening)

August 31 (MONDAY): PROFIT TAKING DAY: Open BELOW 5 (4.94), low 4.84,
SEEMS horizontal run to close in 5.00
Sept 1st: what do you thing shorters? time to cover !!!!T_T

Sharpie 08-31-2009 11:44 PM

C is playing catch up. There isn't any issue, if you are buying and holding C at this pps. It is like a confirmed profit for you 1 or 2 year later. Imagine in 1 year time, what do you think C will be?

Freddic and Fannie are in bigger debt than C. How are they doing now? Half the price of C.

AIG has moved from 8.x pps to highest 55.x pps. Now at 45.x pps. What about C, It is only at 5pps. I got in C when it announce 1st profit. Then I went in again when it announce second profit. I am now holding somemore yesterday waiting for their next Quarter announcement.

If you asked me why C is at this price now, I would say it is all because of the reverse stock split nonsense.

Now C is above 5 bux, it means mutual funds will be buying this stock. I can bet that mutual fund would like to hold on to C and wait till it pop at 20.

That's my target :)

andre3k1 09-01-2009 12:44 PM

just picked up more C at 4.69.


Saintjames 09-01-2009 01:09 PM

Yeah this seems like the bottom for today at @ $4.69 as well with the intention to average down.

Crude Oil Trader 09-01-2009 01:22 PM

Don't buy on the dips here. Financials are going to lead the correction down. I wouldn't even think about Citi again until the SP test 950 support levels.

Longshot 09-01-2009 01:49 PM


Originally Posted by Crude Oil Trader (Post 22964)
Don't buy on the dips here. Financials are going to lead the correction down. I wouldn't even think about Citi again until the SP test 950 support levels.

I'm inclined to agree. Barring any huge news to fuel speculation, there is just too much negative sentiment around C right now in both the media and the fact it's September. [bear]

I'm thinking the S&P will correct itself over the next 2 months by dipping to 950-960 then recovering its 1000+ levels after the new year. [bull]

It's been a fun ride. [cash]

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