CITI Stock - Anyone goin' long??

[HEARTLESS-531]

Just curious if anyone is going long on CITIGROUP stock?? Pandit seems to be really hanging in there and trying to deliver. Thoughts?

 

[HRoi]

yep, have been in in a big way (at least by my standards) since late last year

 

[snesmario]

man i was about to buy back when it was sitting at just $1 but had no money at the time

will buy in sometime this summer when I have more money at my disposal

*I have a friend who bought the stock before the recession back when it was around ~$20, he's still kicking himself ********** and waiting for it to recover

 

[HEARTLESS-531]

Good for you! Apparently, there is a LOT of big money betting on this.

 

[magogian12345]

I shorted Citi at $1.

 

[melwoesblvd]

greece is going down, citi is going down with it. i hope it gets to around 2.50 again. but realistically i think it will stay around 5 for a few months now

 

[Christobevii3]

Why would you buy citi? They sold a lot of their performing assets and their market cap is already "big."

 

[rnoldh]

Originally Posted by Christobevii3

Why would you buy citi? They sold a lot of their performing assets and their market cap is already "big."

Obviously unlike Greece, Citi is too big to fail.

At least until 2012 contingent on who their friends in the White House are.

 

[vexare]

they issued more shares killing current shareholder value, they have tons of debt on the books. Earnings has been low since the crisis, but were good before that - who knows if this will still fly assuming the SEC/gov cracks down on risky practices. You get what you pay for, and you can own CITI for about 4 bucks these days...

TBH the whole market is overpriced and due for a correction.

 

[sho'nuff]

Originally Posted by vexare

TBH the whole market is overpriced and due for a correction.

i hope so

 

[rjmaiorano]

Originally Posted by vexare

TBH the whole market is overpriced and due for a correction.

I agree. I see a correction coming quite soon, if we haven't already seen a start in some places.

I'm long citi, got in early this year and more than content to sit on it for years.

 

[MrNick]

Originally Posted by melwoesblvd

greece is going down, citi is going down with it. i hope it gets to around 2.50 again. but realistically i think it will stay around 5 for a few months now

Most PIIGS debt is in the hands of Europeans. American banks aren't that connected to Greece and the rest of PIIGS, not like European banks.

Citi is a piece of crap bank, but when you have the backing of the government, they won't fail. I advocated buying their stock when it was around a 1 but I don't see the stock going that much higher in the next few years. They're marking assets at bubble prices like almost every bank now. Eventually that will cause a problem.

 

[JesterM]

Yeah, was a little late to the party getting in at 3.47 but I'm content to sit on it for now.

 

[costadelmar16]

Been long since the 99 cent range... hoping for some more. Especially after the gov is done selling all their stake.

 

[melwoesblvd]

the stock fluctuates nearly 5% in either direction almost daily. just day trade that mutha