You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
I'm buying Citigroup... triple bottom?
- Thread starter 4XIS4U
- Start date
The stock is trading in a consoloditation range after the huge downturn in the financials since Jan '07.
Having lost approximately 1/2 its value, I'd say there's more risk to the upside (for pontial shorts) than to the downside (for pontial Longs).
It is still in bullish mode, and considering the lack of leverage that is used to purchase stocks it still represents a solid hold if the OP has already purchased it at higher levels.
Good trading,
I
Having lost approximately 1/2 its value, I'd say there's more risk to the upside (for pontial shorts) than to the downside (for pontial Longs).
It is still in bullish mode, and considering the lack of leverage that is used to purchase stocks it still represents a solid hold if the OP has already purchased it at higher levels.
Good trading,
I
Attachments
Quote from Icarus5:
Having lost approximately 1/2 its value, I'd say there's more risk to the upside (for pontial shorts) than to the downside (for pontial Longs).
Classic misjudgement....
C $ 29.53
Citigroup Inc. -0.92
Shares Short 104,873,200
Days to Cover (Short Ratio) 1.3
Short % of Float 2.11 %
Shares Short - Prior 84,849,100
Short % Increase / Decrease 23.60 %
Squeeze RankingTM -1
% from 52-Wk HIGH ( 57.00 ) -93.02 %
% from 52-Wk LOW ( 29.34 ) 0.64 %
% from 200-Day MA ( 50.84 ) -72.16 %
% from 50-Day MA ( 43.99 )
-48.97 %
Price % Change (52-Wk) -44.80 %
Trading Volume - Today 31,985,542
Trading Volume - Average 81,700,100
Trading Volume Vs. Avg. 39.15 %
Total Shares - Float 4,960,000,000
Total Shares - Outstanding 4,981,134,274
% Held by Insiders 0.39 %
% Held by Institutions 65.00 %
Market Cap 147,092,895,111
EPS 3.72
PE Ratio 8.20
Sector: Financial
Industry: Money Center Banks
SI Record Date 2007-DecB
Fun reading thread, but then again I'm pretty bored today, LOL.
Regarding short interest, many people are still making the same mistake when reading shares short in the open market (trying to predict possible short squeeze). With all the derivatives that are out there, many traders/firms/insitutions will have hedged short positions to collect short stock interest. Reverse conversions with options, SSF's, etc.
Just something to keep in mind.
Happy New Year!
Don
Regarding short interest, many people are still making the same mistake when reading shares short in the open market (trying to predict possible short squeeze). With all the derivatives that are out there, many traders/firms/insitutions will have hedged short positions to collect short stock interest. Reverse conversions with options, SSF's, etc.
Just something to keep in mind.
Happy New Year!
Don
Quote from bgp:
my condolences on "C' THIS MORN.
BGP
BGP, percentage wise nothing scary about C today... even with the bad news... look at other stronger stocks, lots of them are still down... I personally expect it to test the previous support before it bounces (if)... regarding the dividend cuts... don't you think it was already accounted for in the price? I think so...
If this drops through 29.5, then look out below!!!!
i think C is gonna get wacked hard to 25...too many think this is a bottom...Citi is floundering at the bottom it doesnt even bounce.Even when the CEO left the stock tanked 8 points...You would think something positive would happen....The only thing you hear is every body saying this is a bottom....who knows but i think there are better trades out there....on citigroup, going long is just a guessing game