C a buy?

[orion176]

If earnings are weak and the next unemployment number is > 10%, do you want to be long C?

 

[nutmeg]

fwiw,

Yesterday I received an ups express envelope. Inside was an unsolicited refinance offer on my citi mortgage @ a lower interest rate.

 

[hughb]

I've had C up on my screen all week. I've already made up my mind to buy, but I'm not too sure about when. If the market turns down over the next few weeks, C and other banks will be leading the way. So do I want to ride that drawdown? No, but I rode a drawdown on PEP last year and I've come out ok in that one. C ain't going away, regardless of what Dick Bove says. Even if it has lost the status of "too big to fail", it isn't going to fail. One of these days they are going to reinstate the dividend. When the rumors about it start circulating you can be sure income funds will be buying hand over fist.

 

[hughb]

Bought a few minutes ago at 4.05. Since it's a long term investment, there's really no need to sit here tape reading it and trying to save a few pennies.

 

[topeak]

I am a buyer of C at these levels ($4.02)
There is good support at these levels

 

[nelsanity]

Why don't you try deciphering their financial statements. Looking at their balance sheet is like looking at one of those Magic-eye pictures. Deferred tax asset writedown of 10B in Q4? Yeah, this company screams buy... lol

 

[mister_doodi]

Quote from topeak:

I am a buyer of C at these levels ($4.02)
There is good support at these levels

Can't help chuckling at that. C is one of the stocks least applicable to technical analysis.

 

[maximillion]

Quote from ASusilovic:

In the next century, maybe ?

are you still long?

 

[tmarket]

Quote from ASusilovic:
In the next century, maybe ?
Quote from maximillion:
are you still long?

Citigroup is hanging on by Pandit Baba's middle fingers' fingernails. But it is easily pushed in either directions of this TL and not worth getting into until it breaks or bounces decisively.

 

[TheGoonior]

I know this is a "stocks" thread, but since it's about C, I'm investigating a Mar10, Jun10 or Jan11 4/5 vertical call instead of the outright stock.

On the Jan11, you're looking at a risk of about $0.22 with a reward of $0.79 if it's above $5 at expiration.

Not sure if I'd go long at these levels, though...probably wait down until the 2.5-ish range.