After today's C upgrade to $5.75 where is C headed next week?

H

halberdianstahl

Hi everyone,

I'd like to ask for your kind wisdom and ideas.

After Citibank (C) received an upgrade to $5.75 by Merrill Lynch today Friday early morning, what do you guys think that's going to happen to the share price over this week?

Where do you see C headed?

Maybe, I should also ask, where do you guys see the general market headed druing the next week and how will C react during these market conditions? your reasons?

I'm very cautiously positive about C, so I'm holding overnight praying that it will gap up next monday :) if not, I'm screwed because I entered at almost the top of the day! so I don't need false hopes, but reliable indications that I should close the trade and stop losses as soon as practicable or hold on to it and wait for markets if they're heading up.

Since earnings season is not yet over, I'd expect that maybe the markets will be going up until options expiration by Friday, where most likely there should be a sell off, unless there are reasons for an earlier selloff.

Thank you for your kind replies, they are appreciated.
 
I see volume on a gradual path down since a peak volume day on Aug 5, when it was strongly up. Nice volume on Friday, but only about half that Aug 5 volume.
I don't see it saying anything, but I don't usually see volume saying much anyway.
My feeling is this is folks pushing up a laggard in the financials, which is classic late rally behavior. Means we're closer to the end than the beginning.
 
Mutual funds will take it to seven dollars soon. Check my posts.. I was all over it at below three. I was wondering what whould take it over 5. A research report will do. After the fees and the losses to write off the debt is a win win win. I say load up on C and let it run. At 6 margin and double up and let it ride. See you at 10 bucks in 24 months. Traders use the info.
 
I also figured it would go up, big time, however, this week it's likely to be very choppy. kind of makes you nervous, even when GS acquired 47 million shares more this aug. 14.

So based on the current performance and market movement/momentum, I guess this is a stock to buy and hold for the long run at least until the markets say otherwise.

Everything else has rallied, but C has been held back for the big boys to load up after the conversion and the arbitrage play. It's ridiculous to see everything else going up but C. Maybe this is why we see so much volume, as hedge funds and everyone else have switched into an accumulation mode, from insiders to institutions.

I also think that the options are a great way to play C.

Thanks for the replies and enjoy a great week!
 
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