BUY Citibank (C) ??

[New-born baby]

It's nice of you to advise. It's interesting, you are obviously more experienced than I am, but I don't think Citibank is that much of a bad bet, considering that it seems it has already taken most of the hit. The way I see it - buy it for a couple dollars more, or couple dollars less - it has pretty much reached the bottom, I personally don't think it's gonna go that much more down now. I can place a "limit order" for a price of 22.0 Would you say this is the way to go?

Thanks again, to you and the other person who responded.

IF you must have C, you could do that. How long you want to hold C? A year or two? It isn't going to hussle higher anytime soon.

But at $22, you'd be buying support, and that is the place to buy it.

[new_investor]

Yeah, my intention is to hold on to it for a while, I am not looking for quick gains, and I believe that those who want to make the most out of this particular invetment will have to wait for some time. I am thinking about buying 1000 shares, I personally don't think you can go wrong with Citi, again, assuming that you don't mind the wait. I hope this would indeed turn out to be a good investment, I do think this is a good time to buy stocks, and Citi in particular. Hope I'm not wrong

[billyjoe]

new,
Look at a 2 year chart of C and ask yourself "why would it stop at 22 instead of continuing down hill". I'm sure thousands of buyers said the same thing at 35 , 30 , and 25 . It can continue going lower and lower.

-------------billyjoe

[new_investor]

Billy, theoretically you are right, but...

Well, none of us is holding a crystal ball, but the assumption is that at one point the decline will stop, and then the citi stock will start going up again. The question is, of course, at what point, price-wise, is this gonna happen. I am thinking $22 is a good price to get in at, and this is based on a combination of a gut feeling, the history of the stock, and a belief that later in 2008 the market will restabilize. I could be wrong, but Citi, still, is of the world's leading financial institutions, and I don't think that for someone who thinks long-term this would be a bad investment. I see that a few people here disagree, and I'd be curious to hear a little more from you. If the main argument is that the stock could still go down, then I believe an inevitable conclusion is that there's never a good time to buy a good stock, as you sure wouldn't want to pay premium prices of $55, but then when the stock substantially depreciates that's also not a good time. No one knows at what point the stock will hit a rockbottom, so does that mean that I should forget about it altogether?

Thanks, I am here to listen and learn

[IIC]

Well, none of us is holding a crystal ball, but the assumption is that at one point the decline will stop, and then the citi stock will start going up again. The question is, of course, at what point, price-wise, is this gonna happen. I am thinking $22 is a good price to get in at, and this is based on a combination of a gut feeling, the history of the stock, and a belief that later in 2008 the market will restabilize. I could be wrong, but Citi, still, is of the world's leading financial institutions, and I don't think that for someone who thinks long-term this would be a bad investment. I see that a few people here disagree, and I'd be curious to hear a little more from you. If the main argument is that the stock could still go down, then I believe an inevitable conclusion is that there's never a good time to buy a good stock, as you sure wouldn't want to pay premium prices of $55, but then when the stock substantially depreciates that's also not a good time. No one knows at what point the stock will hit a rockbottom, so does that mean that I should forget about it altogether?

Thanks, I am here to listen and learn

I beg to differ...Look at my avatar and you'll see my Crystal Ball.

Just because C is large is meaningless...Expect more bad news in the coming months...I don't think they are going under or anything...But the only thing they got going for them intermediate term is Government bailouts.

[IIC]

C is #2 in exposure here behing JPM...Not where I would put my investing $$$

[mrmarket]

Well, none of us is holding a crystal ball, but the assumption is that at one point the decline will stop, and then the citi stock will start going up again. The question is, of course, at what point, price-wise, is this gonna happen. I am thinking $22 is a good price to get in at, and this is based on a combination of a gut feeling, the history of the stock, and a belief that later in 2008 the market will restabilize. I could be wrong, but Citi, still, is of the world's leading financial institutions, and I don't think that for someone who thinks long-term this would be a bad investment. I see that a few people here disagree, and I'd be curious to hear a little more from you. If the main argument is that the stock could still go down, then I believe an inevitable conclusion is that there's never a good time to buy a good stock, as you sure wouldn't want to pay premium prices of $55, but then when the stock substantially depreciates that's also not a good time. No one knows at what point the stock will hit a rockbottom, so does that mean that I should forget about it altogether?

Thanks, I am here to listen and learn

There are two things of which I am certain:

1. Citibank stock will once again be $50/share.
2. I don't know when that will be.

I bought a bunch at 25..remember it pays a dividend, so if you are comfortable holding it lower (which I am) the dividend will make it worth your while.

[skiracer]

There are two things of which I am certain:

1. Citibank stock will once again be $50/share.
2. I don't know when that will be.

I bought a bunch at 25..remember it pays a dividend, so if you are comfortable holding it lower (which I am) the dividend will make it worth your while.

i agree that it will get back to $50 but by not waiting for the real bottom or closer to it this is what the difference could be. at $25 per sh. vs @22 per sh. and you're buying 1000 shs. that's $3 per sh. difference or $3000 divided by the entry price of $25 =120 more shs. if the entry were $20 the difference would be $5000 divided by $20 = 250 more shs. all the more dividends to plow back in and to make more off of when it comes time to sell. of course you never know what will turn out or if it gets to $22. back in the initial posts of this thread i told her to wait and be patient because it most likely would see $22 or lower.
a couple of years ago mrs. ski and i bought it at 37 range and sold this january at around 50 -52 range. we put it in the DRIP plan the day i bought it and it turned out nice. it is a major player and it will always land on it's feet. and i don't think the govt will let it fail if it ever came to that. I like it very much long once all of this mortgage mess and the economy get straightened out. i also feel that it could and will go lower so right now i would be patient and just watch.
i was going to play it in the potw this week but another player jumped in front of me without warning. just goes to show you cannot procrastinate so you might be right about the $25 entry and i could very well be wrong. right now in the premarket it at 22.45 down -.64. but wouldn't it be a kick in the butt if it went to $10 to $15 levels. regardless i don't think you are going to see $50 this year.

[Peter Hansen]

Citi will rise .....WHEN?????

Citi was just downgraded by Merrill Lynch because of its forecasted earning report....LOWER earnings are the problem.

Personally I think APPL will double much sooner !

[mrmarket]

i agree that it will get back to $50 but by not waiting for the real bottom or closer to it this is what the difference could be. at $25 per sh. vs @22 per sh. and you're buying 1000 shs. that's $3 per sh. difference or $3000 divided by the entry price of $25 =120 more shs. if the entry were $20 the difference would be $5000 divided by $20 = 250 more shs. all the more dividends to plow back in and to make more off of when it comes time to sell. of course you never know what will turn out or if it gets to $22. back in the initial posts of this thread i told her to wait and be patient because it most likely would see $22 or lower.
a couple of years ago mrs. ski and i bought it at 37 range and sold this january at around 50 -52 range. we put it in the DRIP plan the day i bought it and it turned out nice. it is a major player and it will always land on it's feet. and i don't think the govt will let it fail if it ever came to that. I like it very much long once all of this mortgage mess and the economy get straightened out. i also feel that it could and will go lower so right now i would be patient and just watch.
i was going to play it in the potw this week but another player jumped in front of me without warning. just goes to show you cannot procrastinate so you might be right about the $25 entry and i could very well be wrong. right now in the premarket it at 22.45 down -.64. but wouldn't it be a kick in the butt if it went to $10 to $15 levels. regardless i don't think you are going to see $50 this year.

Wow..if it ever went to $10, I would certainly back up the truck.

[skiracer]

Wow..if it ever went to $10, I would certainly back up the truck.

i was reluctant to let myself think that it could go below 20 - 22 levels. look at it today. i want to be a buyer but to get it at it's bottom.

[mrmarket]

i was reluctant to let myself think that it could go below 20 - 22 levels. look at it today. i want to be a buyer but to get it at it's bottom.

and now Chavez has his troops at the border of Colombia and Ecuador has cut off all diplomacy with Colombia...it's World War III in South America! Oy.

[New-born baby]

Wow..if it ever went to $10, I would certainly back up the truck.

How much will you buy if it falls to $0.00? lol
C COULD fail outright . . . be taken over by FDIC. They (FDIC) hired more staff. They expect enough bankruptcies to keep the new hires busy.

[IIC]

How soon we forget

http://www.reuters.com/article/bankingFinancial/idUSSP7190720071127

Doesn't it seem strange that C would pay 11% when the FED is practically giving money away?

[New-born baby]

How soon we forget

http://www.reuters.com/article/bankingFinancial/idUSSP7190720071127

Doesn't it seem strange that C would pay 11% when the FED is practically giving money away?

The top analyst for Abu Dai said today that $7.5 Billion was only a drop in the bucket for C's losses. C may go belly up.

Question: was that $7.5 billion the CEO's bonus money?