BUY Citibank (C) ??

[JohnHenry]

Will we let C fail like we let LEH? LEH was the smaller of the two and look at the end result. I still don’t know why we let LEH failed.

[JohnHenry]

So today, over 700 million shares traded hands. If the stock goes down to a penny, does C issue more shares, or go bankrupt? They still have cash money; otherwise they wouldn’t purchase SIV for over $17 million dollars. The people that purchased at a bargain will lose all?

Correction, should be $17.4 billions not $17 millions of assets held by structured investment vehicles to undo their troubled finances.

[JohnHenry]

Shorting C is the only way to make money off of it now.

Yeah! I took your advice and shorted 100 shares of C at $5.125 before I went to school and cover before lunch at $3.489. Boy it was a scary and very exciting because I didn’t know where it was swing. Yep, good stimulating experience I don’t want to through again soon. Thanks NNB

[New-born baby]

I bought a little C today. I bought a mere 50 shares at about $4.13. I couldn't help myself.

What are you doing, Rob??!!! You couldn't help yourself?
Doesn't Imclone make a pill for this?

[Rob]

I Couldn't Resist

I bought a little C today. I bought a mere 50 shares at about $4.13. I couldn't help myself.

[IIC]

As my attorney told me when I divorced my first wife..."You are only stupid if you make the same mistake twice"

Fortunately after 22+ years with the 2nd Mrs. Breakout I'd say I did not repeat my first mistake....Mr. B aka IIC aka Sharptraders aka Doug aka...Whatever 'ya wanna call me

[mrmarket]

Mr.Mkt.,
You may be an idiot or a genius time will tell.

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

Call me "Idiot".

[mrmarket]

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.

NBB seems to have predicted this every step of the way. He is HUGE!

[mrmarket]

Also...is it true that mutual funds aren't allowed to own stocks at less than $5.00/share? Is so, they will be dumping and can't help out the stock price any more!

[mrmarket]

I think my C shares are worth less than toast....good lesson learned:

"Everyone who was selling couldn't all be stupid."

[IIC]

My crystal ball says C is toast...Sorry...But that's just the way it is...and I believe I posted something similar many months ago

[JohnHenry]

So today, over 700 million shares traded hands. If the stock goes down to a penny, does C issue more shares, or go bankrupt? They still have cash money; otherwise they wouldn’t purchase SIV for over $17 million dollars. The people that purchased at a bargain will lose all?

[New-born baby]

C is trying to stimulate deposits. The problem with C is that they really don't make anything. The only thing that generates business for them is their credibility. If they lose their credibility, they could be a "zero".

Here's the punch line...if C is going to survive, then $6.50 per share is an incredible bargain. If C is not going to survive, then you're just throwing good money after bad. Does management know whether or not C will survive? I don't think it's up to them anymore.

C is done, don't ya see? It is all over for them. The chart says zero. $6.50 is not bargain. Shorting C is the only way to make money off of it now. C will be shattering into a thousand little pieces as they sell off pieces in an effort to survive. But alas, it will be in vain.

As for the managers, they are buying because they must have a certain dollar figure in shares in order to keep their jobs. For instance Rick Wagoner must have at least $5 million in shares in order to keep his job as CEO of GM.

GM, C, F, Chyrsler--all cooked. I see complete financial collapse for the US gov't in Sept 2009.

[mrmarket]

C is raising CC interest rates, this is a good idea during a recession? Also, managements are purchasing shares; they know something we don’t know?

C is trying to stimulate deposits. The problem with C is that they really don't make anything. The only thing that generates business for them is their credibility. If they lose their credibility, they could be a "zero".

Here's the punch line...if C is going to survive, then $6.50 per share is an incredible bargain. If C is not going to survive, then you're just throwing good money after bad. Does management know whether or not C will survive? I don't think it's up to them anymore.

[JohnHenry]

Btw, why is C doing so horrible? Did they have $$$ to buy WB a few months ago?