Citigroup - BUY

What's your opinion?

  • I agree it's a BUY

    Votes: 33 47.8%

  • I don't agree it's a SELL

    Votes: 28 40.6%

  • I don't agree it's Neutral

    Votes: 8 11.6%
  • Total voters
    69
Quote from Port1385:

Robbie, Sometimes you just have to step into the waters when you believe a stock is nearing a bottom. This is a strategy which many professional traders and fund managers employ.

Whether they are successful or not, time will tell...however, at least they have the balls to make a decision and are not buying at the top like so many traders do on this site.
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lol i like the way you think. :D

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I just think this is a very hard way to make money. Yes, C might find a bottom, but is it going to go back to the old highs? Not in our lifetime. At best you're looking at a small bounce. Why take on all that risk for nothing?
 
Robbie, re-read the thread, I've suspended the recomendation before stock went down with stock markets. This entry was into strength. Please stop being an ass.
 
Quote from MKCTrader:

No offense, but you're going to lose your shirt and everything else if you play this idea of yours with any size.

Good luck

You must control risk by determening a maximum loss per trade. So I assume that you would go short in this situation.
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Quote from AAAintheBeltway:

I just think this is a very hard way to make money. Yes, C might find a bottom, but is it going to go back to the old highs? Not in our lifetime. At best you're looking at a small bounce. Why take on all that risk for nothing?
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I am not suggesting it would go back to the highs, I did post projections earlier in the thread.

I trade futures, I don't trade stocks, that is the reason I am not actually trading this rec. I am a countertrend trader by character & experience. I have no idea what you're talking about when you say "but is it going to go back to the old highs? Not in our lifetime. At best you're looking at a small bounce. Why take on all that risk for nothing?" What is "all that risk" that you refer to?
 
Financials have A LOT more issues to work out. There will be more writedowns, dividend cuts, layoffs, need to raise capital, .....etc. Now is not yet the bottom for banking stocks/financials.
 
Quote from 1flyfisher:

Financials have A LOT more issues to work out. There will be more writedowns, dividend cuts, layoffs, need to raise capital, .....etc. Now is not yet the bottom for banking stocks/financials.
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I did not try to call THE bottom, I spotted conditions pointing to a potential bounce which exceeds risk.
 
S&P500 futures pointing to a breakout bounce out of the wedge

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1971895>
 

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Quote from JSSPMK:

I did not try to call THE bottom, I spotted conditions pointing to a potential bounce which exceeds risk.
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no you didn't. you called out a risky low percentage trend fighting trade. you tried to quantify it as low risk because you made up some lofty profit target which was never really attainable. i laid out the scenario correctly and you didn't want to hear any of it. if a trade moves against you that quickly then you clearly didn't grasp the risk, reward, and percentages correctly. you were happy to fight a massive downtrend and dismiss anything i said.

keep up the elitetrader trend fighting trades!
 
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