Where is the Bottom on Citigroup?

[ByLoSellHi]

Closed @ 19.60

Someone once jokingly said on here they'd buy at $5.

What do they have to do to shore up their balance sheet and investor confidence?

I may nibble at around $15 if it has any signs of basing and consolidating, depending on interest rates and a few other factors, but this thing is unbelievable.

 

[eusdaiki]

$0.02 ?

 

[HolyGrail]

The temporary bottom is 13-15. If it doesn't consolidate in that range it will probably go a lot lower.

 

[Brandonf]

Citi has gotten itself into a very bad situation. Had Abu Dhabi not come in to bail them out they probably would have been Bear Sterns before Bear Sterns was so to speak. They are still bleeding cash and looking to raise more again.

 

[kinggyppo]

I think Jim Rogers said it will trade under $10.00. Who knows?
Some of this stuff looks dirt cheap, but so did some of the internet ipo stuff back in 2000.

 

[staffpro]

13-15$ that is 2/3 re-tracement from the highs last fall. if it were to go below that who knows...

 

[stock_trad3r]

$0.00??

 

[The Kin]

It's a well know fact that the bottom in citigroup is $5.

Jim Rogers is only wrong on airlines. No one is perfect!

 

[margo_trader]

Eventual targets.......$17.50......$6.00.......and finally $1.00

 

[musclemoney]

Quote from stock_trad3r:

$0.00??

LOL!!!

At this point, I wouldn't touch C with a ten foot pole. There are some "Pros" out there writing $15 puts and collecting income. Short lived income...