if u remembered the last time when C was lifted out from $2 days, it was due to a profit in the quarter...

This quarter, C has sold more of its assets, kept its profitable part of the businesses running & making money, no more revaluation of its CDOs & derivatives, etc (i.e. the toxic assets has already been discounted in the share price) --> so i'd expect a profit this quarter...and a lift to > $5

also as most of you will know here, most institutional investors & pension funds are barred from buying shares <$5 and if this quarter's profits can really change things around, you might see one of the greatest rally this year!

Compared with BAC, 62% of BAC is institution-owned while for C it's only 18% -> i see no problem for the C to find a buyer to exit the TARP program as well.

Anyway, we'll see when next Q results will be announced on Oct, insider buying seems to indicate potential positive news:

"The news is sufficiently bullish that Chairman Richard Parsons, new Citibank head Eugene McQuade, and Manuel Medina-Mora, the chief executive of Citigroup's Latin America and Mexico business, recently bought 1 million shares of stock apiece.

The buy from Mr. Medina-Mora follows a nicely timed $1.86 million purchase in March, when he paid about $1.24 a share."

http://www.bloggingstocks.com/2009/08/21/i...at-citigroup-c/

I am actually suggesting not to invest Citi but only to trade Citi... Book value is not USD 14, it is USD 6.9 only (including prefered,if strictly common share only, it is worth less than 6.9), the outstanding common share is 22B, not 11B as stated in Google Finance. And a reverse split like AIG is expected to happen.

http://www.fool.com/investing/general/2009...000001&mrr=1.00

USD 6.9 should be alright, but I don't think Citi can go up to USD 55 like JPM or WFC. Institutional holdings is more than 50% I think, you must account for goverment stake, Singapore sovereign fund stake and Abu Dhabi stake that have been converted from preferred to common stock.

This post has been edited by klfong: Sep 20 2009, 11:20 PM

Yes, it is important that a company can turn to profit.
I do believe that Citicorp can be better.
The 75% of outstanding shares are due to bailout.
I will see these two things before i buy C:
1) next quarter financial report (excluding one time selling off)
2) US treasury plan on selling the shares.

I'm bearish for C next week. If C drops below $4.26, I'll short it.

I don't understand what are you all talking and bashing about CITI.

There's OPPORTUNITY, if you think its bearish, you can short and vice-versa. Why so difficult? Change your mindset. Its not trading KLSE.

Put this simply :

If you think C is worth $2 or $0.10, then don't have to buy right now. Why talk nonsense of what is the price direction?
Everyone have their own opinion on the price and purpose of each counter. Nobody can predict that it will be in next week, or October or next year. Just take a good look at AIG.

Some looking for long term investment. some day trade, some short term. Everyone having different and unique method.

There's a lot of companies out there apart of CITI, Take ETFC for example, just received a Rating Upgrade, the price appreciate by 30%. Local market? Dream on.
Profit up by 5%, price move 10-15%, Local market? Puitt.

You can even trade/invest short term in UYG. Or Go for MGM, LVS, GLD, SLR..

For investment and trading, US market is much much much better than local market. You may say local market is good, because you think you know what's going on. Well, there's thousand of NYSE listed companies that are much2x better than KLSE.

Opportunity are everywhere, local or foreign.

For me personally, I will trade NYSE. Simple reason, the swing in price is much2x better than local market. Of course the risk comes with it. No risk, no gain. Local market now is dying, because no foreign fund support.

Side Note: If you are not doing day trading, why so calculative on the commissions? After all just buy and hold. The price appreciation can pay all the charges. Be logical.

Trading NYSE is not like trading KLSE. Everything is different. If you can't accept the reality, then don't even think of trading outside the country.

This post has been edited by zamans98: Sep 21 2009, 12:40 PM

Someone must have had a 'spicy' lunch today.

Chill man, they're just voicing out their opinions and it so happens to be on Citi. Besides, there has to differing opinions on a stock for the price to move. Otherwise, it'll end up like the stocks on KLSE, low breadth and liquidity.

Did you guys enjoy your Raya Day?

NYSE futures is red tonight.. opportunities for both short and long.
Stocks are going make some move tonight!

Oil dropping close to $2.. back to $70/barrel.

Stocks to watch and play tonight:
ERX/ERY
DIG/DUG



This post has been edited by danmooncake: Sep 21 2009, 08:44 PM

yeah.. waiting for the market to start trading..

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Added on September 21, 2009, 9:04 pm really red. about 5%.

This post has been edited by epalbee3: Sep 21 2009, 09:04 PM

PER (Perot Systems) popped up 65% after DELL announced that it will acquire it.

Tonight, people are taking profits from the last week of gain.
Time to buy some on dips if you're long.

Citi Pre-market: 4.23 -0.03 (-0.70%)

place your SHORT position already?

BAC is also dropping..

No shares available.. but shorted FAS 85.

oic.. FAS tp $80?

What's the question?

I mean target profit for your FAS.

Is there any broker that I can use Paypal to fund? I saw a blog mentioning etradem but was an old post. Can't seem to find any.

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Added on September 21, 2009, 9:39 pmGood move huh. It is going down...

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Added on September 21, 2009, 9:42 pmDanmooncake, you short FAS at 85.

100 shares also cost a bomb. Not to mention the exchange rate. hmm.


This post has been edited by dannyooi_84: Sep 21 2009, 09:42 PM

AIG soaring 7.5% 9%! on Greenberg's proposal.

This post has been edited by mH3nG: Sep 21 2009, 10:02 PM

very excited compared to CI..
like roller coaster

I'm not buying..I' short sell, doesn't cost me thing yet and I don't care about exchange rate.

To me RM1 = 1USD. Just think like this. Otherwise you can't trade.

I know you shorted it. You use margin to trade?