Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 12:53 AM. | Search:

» StockRants Stock Forum » Public Stock Forums » US Stock Picks » Watch: $C - Citigroup Inc.



Reply
 
Thread Tools Search this Thread
Old 08-31-2009, 02:20 PM   Nav to Top  #1
Saintjames
UberTrader
 
Saintjames's Avatar
 
Join Date: Apr 2009
Location: Victoria
Posts: 248
Favorites: TSE:COS | TSE:CPG | TSE:LRE
Rep Power: 176
Reputation: 1115
Saintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud of
Did I help?
Question $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? or
Saintjames is offline   1 thumbs up / 0 thumbs down. Rate this post Yes | No Reply With Quote
Old 08-31-2009, 02:51 PM   Nav to Top  #2
andre3k1
Senior Trader
 
andre3k1's Avatar
 
Join Date: Aug 2009
Location: MIAMI
Posts: 110
Rep Power: 135
Reputation: 309
andre3k1 is a jewel in the roughandre3k1 is a jewel in the roughandre3k1 is a jewel in the roughandre3k1 is a jewel in the rough
Default

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.
__________________
follow me. . . .
http://twitter.com/BullishBEAR (for stock talk)
http://twitter.com/andre3k1 (personal)
andre3k1 is offline   Rate this post Yes | No Reply With Quote
Old 08-31-2009, 04:18 PM   Nav to Top  #3
Saintjames
UberTrader
 
Saintjames's Avatar
 
Join Date: Apr 2009
Location: Victoria
Posts: 248
Favorites: TSE:COS | TSE:CPG | TSE:LRE
Rep Power: 176
Reputation: 1115
Saintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud of
Did I help?
Thread Starter
Default

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
Saintjames is offline   Rate this post Yes | No Reply With Quote
Old 08-31-2009, 09:46 PM   Nav to Top  #4
teenwolf41
Senior Trader
 
teenwolf41's Avatar
 
Join Date: Jul 2009
Location: Massachusetts
Posts: 124
Favorites: EGO, HPT, C
Rep Power: 132
Reputation: 237
teenwolf41 has a spectacular aura aboutteenwolf41 has a spectacular aura aboutteenwolf41 has a spectacular aura about
Default

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.
teenwolf41 is offline   Rate this post Yes | No Reply With Quote
Old 08-31-2009, 10:20 PM   Nav to Top  #5
Siforus
VIP Trader
 
Siforus's Avatar
 
Join Date: Jun 2009
Location: Maple Valley, Wa
Posts: 177
Favorites: EMAN, POPN, NEXM, TVIPF
Rep Power: 152
Reputation: 622
Siforus is a name known to allSiforus is a name known to allSiforus is a name known to allSiforus is a name known to allSiforus is a name known to allSiforus is a name known to all
Did I help?
Big Smile 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.......................

Jorge
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
broken:

WHEN C BROKE 4.00
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)

WEEKEND
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
4.10's

Now check this out:
WHEN C BROKE 5.00
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)

WEEKEND
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 !!!!

Last edited by Miles; 09-01-2009 at 03:28 AM.. Reason: formatting!
Siforus is offline   3 thumbs up / 0 thumbs down. Rate this post Yes | No Reply With Quote
Old 08-31-2009, 10:44 PM   Nav to Top  #6
Sharpie
VIP Trader
 
Sharpie's Avatar
 
Join Date: Jun 2009
Location: Austin
Posts: 66
Favorites: AIB HEB BAC
Rep Power: 153
Reputation: 753
Sharpie is a splendid one to beholdSharpie is a splendid one to beholdSharpie is a splendid one to beholdSharpie is a splendid one to beholdSharpie is a splendid one to beholdSharpie is a splendid one to beholdSharpie is a splendid one to behold
Default

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 :)
__________________
"We believe the markets are in uncharted territory [...] Frankly we don't know, history provides no clues and anyone who claims to have some insight or strategy cannot do so on the basis of fact and historical evidence." - Laszlo Birinyi (Birinyi Associates)
Sharpie is offline   Rate this post Yes | No Reply With Quote
Old 09-01-2009, 11:44 AM   Nav to Top  #7
andre3k1
Senior Trader
 
andre3k1's Avatar
 
Join Date: Aug 2009
Location: MIAMI
Posts: 110
Rep Power: 135
Reputation: 309
andre3k1 is a jewel in the roughandre3k1 is a jewel in the roughandre3k1 is a jewel in the roughandre3k1 is a jewel in the rough
Default

just picked up more C at 4.69.

GREAT TIME TO BUY - IT"S BEING OVERSOLD LIKE CRAZY.
__________________
follow me. . . .
http://twitter.com/BullishBEAR (for stock talk)
http://twitter.com/andre3k1 (personal)
andre3k1 is offline   Rate this post Yes | No Reply With Quote
Old 09-01-2009, 12:09 PM   Nav to Top  #8
Saintjames
UberTrader
 
Saintjames's Avatar
 
Join Date: Apr 2009
Location: Victoria
Posts: 248
Favorites: TSE:COS | TSE:CPG | TSE:LRE
Rep Power: 176
Reputation: 1115
Saintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud ofSaintjames has much to be proud of
Did I help?
Thread Starter
Default

Yeah this seems like the bottom for today at least...in @ $4.69 as well with the intention to average down.
Saintjames is offline   Rate this post Yes | No Reply With Quote
Old 09-01-2009, 12:22 PM   Nav to Top  #9
Crude Oil Trader
Trader
 
Crude Oil Trader's Avatar
 
Join Date: Aug 2009
Location: Tucson
Posts: 33
Favorites: USO, DTO, FCG, PBR
Rep Power: 121
Reputation: 54
Crude Oil Trader will become famous soon enough
Arrow

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.
__________________
http://crudeoiltrader.blogspot.com
Crude Oil Trader is offline   2 thumbs up / 0 thumbs down. Rate this post Yes | No Reply With Quote
Old 09-01-2009, 12:49 PM   Nav to Top  #10
Longshot
Trader
 
Longshot's Avatar
 
Join Date: Aug 2009
Location: Chicago
Posts: 72
Favorites: ICO, CMED, USG
Rep Power: 127
Reputation: 163
Longshot has a spectacular aura aboutLongshot has a spectacular aura about
Default

Originally Posted by Crude Oil Trader View Post
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.

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.

It's been a fun ride.
Longshot is offline   2 thumbs up / 0 thumbs down. Rate this post Yes | No Reply With Quote
Reply

Tags
C

Similar Threads
Thread Thread Starter Forum Replies Last Post
Buy: Buy Citigroup (C) longtrader782 US Stock Picks 2 12-09-2009 10:42 PM
I still think Citigroup can reach $5 after earnings longtrader782 Traders Lounge 1 10-18-2009 10:05 PM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On