BUY Citibank (C) ??

[skiracer]

[quote=yoyomama;98719]Whachu all think about this?

http://articles.latimes.com/p/2009/03/20/business/fi-citigroup20

Well I'm learning on the spot here. Just trying to figure out a strategy and learn about getting in & out fast or at least trying...not day trading so much because I'm going to use my own funds that are cleared so technically there's no limit on that right...as long as you have the funds available?[/quote
are you trading off of an online brokerage platform. it so you should be able to enter, set a stop and exit trigger, and walk away from the trade knowing that you have limited your loss with the stop and set your target with the planned exit. most online brokers will allow you to go on margin if your acct is funded with $2000 or more. $25000 in an acct and you get margin, which allows you to trade $50000 in stock, and to daytrade as you want or see fit. be careful with the margin because if you are relatively new to this and are just learning you can hurt yourself financially easily by using the margin with money that you dont own or have. you sound like you want to trade short term so you should pick up a book on reading and interpreting charts and the basis for technical analysis.

[skiracer]

i re-entered C today at 2.62 and then again at 2.42. i bought a truckload. exited the trade from the other day at 2.52 range. entered at 1.05. i think it goes back above 3 and possibly alot higher. i had 20,000 shares at 1.05 and exited at 2.52. it turned out real nice. anywhere at these levels is a good buy in my opinion.

maybe you missed this post. you should consider adding to your position and averaging it down abit by doing so. my feelings are that is goes higher than 3.33. but you sound like you have some studying to do regarding trading and how you want to trade.

[steelman]

Holy .#@!?*! Zombo.com is Filarious. Thanks for the good laugh Jiesen.

[New-born baby]

The only limit is yourself... at Zombo.com.

This is Zombo.com:
http://www.zombo.com/

I don't know where you find this stuff, Jiesen, but you always seem to find it.

[yoyomama]

....................

[jiesen]

Whachu all think about this?

http://articles.latimes.com/p/2009/03/20/business/fi-citigroup20

Well I'm learning on the spot here. Just trying to figure out a strategy and learn about getting in & out fast or at least trying...not day trading so much because I'm going to use my own funds that are cleared so technically there's no limit on that right...as long as you have the funds available?

The only limit is yourself... at Zombo.com.

This is Zombo.com:

http://www.zombo.com/

[yoyomama]

Whachu all think about this?

http://articles.latimes.com/p/2009/03/20/business/fi-citigroup20

you should express yourself and state specifically what it is that you want to know or learn about. what is it that you are looking for exactly. winning stock pick. Buy C it will go over 3.33.

Well I'm learning on the spot here. Just trying to figure out a strategy and learn about getting in & out fast or at least trying...not day trading so much because I'm going to use my own funds that are cleared so technically there's no limit on that right...as long as you have the funds available?

[skiracer]

So somebody make my day & tell me it'll get back up to $3.33 before never.

Can somebody point me to some newbie investor threads on this board?

Thanks!

you should express yourself and state specifically what it is that you want to know or learn about. what is it that you are looking for exactly. winning stock pick. Buy C it will go over 3.33.

[yoyomama]

So somebody make my day & tell me it'll get back up to $3.33 before never.

Can somebody point me to some newbie investor threads on this board?

Thanks!

[IIC]

If it's true banks delay the truth as long as possible when it's bad news you can bet there's more to come. I'm going to look at 2 houses tomorrow. Bidding starts at $1000.

--------------billy

It is true and they used to do it till the Gov't made them tell the truth...But now the Gov't is in on the sham.

Now...there is money to be made (or lost) here short term...But be on your toes...Best, Doug

[skiracer]

i re-entered C today at 2.62 and then again at 2.42. i bought a truckload. exited the trade from the other day at 2.52 range. entered at 1.05. i think it goes back above 3 and possibly alot higher. i had 20,000 shares at 1.05 and exited at 2.52. it turned out real nice. anywhere at these levels is a good buy in my opinion.

[billyjoe]

If it's true banks delay the truth as long as possible when it's bad news you can bet there's more to come. I'm going to look at 2 houses tomorrow. Bidding starts at $1000.

--------------billy

[mrmarket]

So uhh I bought some of it while it was a good thing a few days ago...sold some & got a taste of the good stuff(Newbie!). I wanted to go larger right then but couldn't transfer my dollars into the broker account quick enough. When I did I still thought it would be heading north & I went in pretty big but at $3.33. I'm not in dire straights where I have to bail & I still think it'll get back up there.

Should I hang? I'm not in for the long haul...if I can get back up to what I paid I'll sell & be happy enough with what I did a few days ago.

Oh this is simple:

1. If Citibank has written down all of their bad loans and these have been reported, their stock price should easily go back to $20.

2. If there are more bad loans ahead, and the government ends up nationalizing Citibank, the stock will go back down below $1.

Which is true? I'd watch insider purchases.

[yoyomama]

So uhh I bought some of it while it was a good thing a few days ago...sold some & got a taste of the good stuff(Newbie!). I wanted to go larger right then but couldn't transfer my dollars into the broker account quick enough. When I did I still thought it would be heading north & I went in pretty big but at $3.33. I'm not in dire straights where I have to bail & I still think it'll get back up there.

Should I hang? I'm not in for the long haul...if I can get back up to what I paid I'll sell & be happy enough with what I did a few days ago.

[steelman]

Aye, sorry yoyomama, she's heading south again. Though it could just be a pullback before the re-laucnh next week

I still think the financials will go up by the end of the year, not sure if you are going long or swing trading.

Good luck though, if you don't mind, what price did you get in at?

Hey Ody,
Got it at $1.21 out at $2.83. However still down because I had bought shares a couple months back at $15 when I thought it was a deal. At 1.21 I had bought the same amount of shares that I already owned at $15. Well, new and a lot to learn. Let me know if you think it might be good to get back in next week.
Best Regards