Don't sweat too much... its temporary drop is because US government is selling back the share they bought as part of the stimulus...

It means to US gov, Citigroup's capital is healthy enough for them to withdraw some of its holdings. Its a good thing as it also means C is on its way out of the bailout program...

However not sure how much it'll continue to drop as its currently trading at a premium over Treasury's conversion price of 3.25. If you have bullet I'd suggest get ready to load more of Citigroup's share...

Quite correct, if C falls to $4, just buy another batch to average down.

If that's the case then the lowest it can go is USD3.25. Any lower and the Treasury won't even bother converting it unless it needs to get out of Citi asap which will then push the prices even lower.

True. Risk taking are much better compared to 1 year ago.
I would invest in C when it drop below USD4. Any price below USD4 will be nice for long term investment, lets say 3-5 years
I maybe will consider to buy long calendar spread maybe January 2010 5.00 Call

citigroup appears to be holding at 4.30 atm..

guys any thoughts about wells fargo and ge? what would be a good price to enter for both of them? wells fargo, according to my calculations, provides aounrd 9% annual return based on current earnings, not bad

edit, i'm thinking of entering wells fargo at around 27.00, is that too high?

This post has been edited by motolola: Sep 16 2009, 12:05 AM

Both WFC and GE seem to be YTD high already. I would be very cautious buying at this level but then again, US bullish sentiments seems to be unstoppable now. We are way overbought and there is no bad news at this moment for any pullback. They want DJ to go to 10000 and S&P to 1200 by December.

is YTD= year to date?
if it's already overbought then even if the bulls continue, the bears must come out from hibernation sooner or later right? thanks for the advice. i think i'll keep my bullets ready and read more about US stocks first
how's everyone's trading going so far? made any purchases?

Yes, if you're long better wait for pull back. The market is very toppy now and you don't want to get caught up at this level. But, short term, I think we may see DJ reaching 9700, and SP 1060. I will still be very cautious to buy anything at this price.

Let's see how high can this go..

Update: 4:07am

Both DJ and S&P crossed over 9700 and 1055 respectively and bounced off at closing.
This is partly due to Bernanke bullish comment that "recession is likely over.. but no jobs".

C got hammered today after the US govt announced they wish to exit but no clear plan on how.
Investors now dumping C due to this uncertainty. As such C didn't participate in upswing today.

If we pull back in the next few days, we may see further downward pressure on C.







This post has been edited by danmooncake: Sep 16 2009, 04:13 AM

unfortunate to see C hanging in the thin air. Govt wanna sell their stake and cash in the $profit$ but still duno how they gona do that.

I'm reloading at 4, need 5 working days to get the fund. Hope to catch C @ 390-4.

Both LVS and MGM popped up big time today.

Aluminum producer Alcoa (AA) also made its move up today.

This post has been edited by danmooncake: Sep 16 2009, 05:53 AM

you forgot Airlines... all moved 15-20% since last week..

JLBU, DAL, LCC
Jetblue, Delta Airlines, American Air etc

Hi guy, any stock got potential to up recently for short term investment, maybe in n out in 5 days time. Suggest ..TQ

Looking at the US stocks trend for the past 8-12 weeks, certainly looks like a mini bull market already.
At this rate, Dow may want to see 10000 before any major correction.

This post has been edited by danmooncake: Sep 16 2009, 10:11 AM

I can see that C is going to drop to the original level of about 2, if you observe the graph carefully.
Always interested to buy it, however, just afraid internally whether they have good enough management to bring C back to earning.
I will wait until it drops to 2, then will long to earn several times.

Are you a chartist? This current market does not suit chartist/technical analysis.

All the technical analyst saying last month that AIG will go back to 20-25$ level. but until now AIG still holding $40.
Same goes with any counter. Its the fundamental news that moved a particular share.

12:00 AM Wednesday's economic calendar:
7:00 MBA Mortgage Applications
8:30 Consumer Price Index
8:30 Current Account
9:00 Treasury International Capital
9:15 Industrial Production
10:30 EIA Petroleum Status
1:00 PM NAHB Housing Market Index

p/s : if you believe C can move to $2, then why not short C now? there's $2 healthy swing there.

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Added on September 16, 2009, 6:06 pmC up 21cts in pre-market. Finally sparks buying interest as the disposal will be happening slowly, in batches/stages.

This post has been edited by zamans98: Sep 16 2009, 06:06 PM

C at 2 will be in memory now.

Watching LVS and MGM tonight..

LVS looks like going to 22 as target

danmooncake, everyone is looking for you

People are who long GE are finally getting payoff.
GE price target will be $20 by end of this year.

C is starting to get better at walking by itself, that's why the gov is starting to let off its hands, it'll be running next year i hope!

danmooncake, what's with the sin stocks? any good news for lvs and mgm?