Thoughts on CITI (C and CIT)

[floodcitykid]

Have been buying (and selling) this for tidy profits, but wondering about long term on each Any thoughts?



Floodcitykid

[nyiangelo]

Anyone that got a bailout I'm not messing with. I've been hearing the only thing driving there price up at the moment is all the people wanting to short them. But long? I don't know I'd pick another bank if it was me. May not be the huge gains, but I could sleep knowing my money was still there.

[Rich in Central PA]

I too was contemplating these 2 stocks and had them on my watch lists for months. Lots of volume, and volatility, but C doesn't look like its going anywhere in the near term, and same goes for CITI, therefore, I've dropped them from my watch list, I think I read something about CIT near bankruptcy, too risky and both are in debt bigtime so I'm staying away from these 2. Just my thoughts..............Rich

[Rich in Central PA]

UPDATE.........Kramer said today on CNBC that (C) is a buy and should be a $12 stock by 2012. I 'm considering buying some at these low prices $4.18 as of 11/10/09. Good luck if you buy.

[Rich in Central PA]

Bought some (C) today (11/11/09) @ $4.18. Will hold for awhile, and hope for the best and see where it goes.

Still holding, and bought more (C) today (3/10/10) @ $4.02 a share. Lots of positive news on (C) recently, all analysts that I read says Citigroup is doing a turnaround with a target price of $12 per share in 2012, and is a bargain at these prices out of all the bank stocks. Up 12% this past week, and 4% today. Enjoying the ride.............

[ken(Toronto)]

Just bought some C @ $3.82 a while back.
It's @ $4.62 today
Some big portfolio managers bought a whole bunch; one bought $700 million worth a few weeks ago.
It's supposedly safe now, and not go bankrupt.

Ken

[Rich in Central PA]

Bought some (C) today (11/11/09) @ $4.18. Will hold for awhile, and hope for the best and see where it goes.

Still holding, and bought more (C) today (3/10/10) @ $4.02 a share. Lots of positive news on (C) recently, all analysts that I read says Citigroup is doing a turnaround with a target price of $12 per share in 2012, and is a bargain at these prices out of all the bank stocks. Up 12% this past week, and 4% today. Enjoying the ride.............

Unloaded all my (C) shares @ $4.74 on 12/10/10 and @ $5.1201 on 1/4/11 prior to their quarterly earnings report for a fairly nice profit. Did something right for a change, C tanked after reporting.
I would have held longer, however, I suspect a reverse split on the horizon, had to get out before that happens.