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citi corp

Now which goondu thinks its a good idea to announce that he's going to sell 1.5 billion shares BEFORE he sells it and expects no effect on the share price whatsoever? I can't believe the US Fed did just that!

 

with usa gov continuing closing down the smaller banks every week, the big banks are going to benifit from it

 

Hello Blackstreams,

Pity the TAT breaking $4 was soooooooooo short lived...... !!$#%#$^&! but then we going for big picture ...

LVS damn strong!! This i like.........hahaha.......... Wonder when Citi is going to execute reverse split? More interesting is whether the reaction will be similar to AIG when it got pummelled to the ground, presenting such a divine opportunity, only time will tell.

See how the coming week pans out; not sure if the "Sell in May, Go Away" syndrome will come to pass.

blackstreams      ( Date: 23-Apr-2010 22:35) Posted: jchong - TAT just burst past $4 and is now trading at $4.05. Give yourself a pat on the back mate. LVS dashed past the $25 resistance and hit a high of $25.88 just now, C is trading around $4.94. This feeling damn shiok!

 

jchong - TAT just burst past $4 and is now trading at $4.05. Give yourself a pat on the back mate. LVS dashed past the $25 resistance and hit a high of $25.88 just now, C is trading around $4.94. This feeling damn shiok!

 

S$5.00

 

I don't recall the citi shares consolidating. The whole upswing was started last year March when Vikram stated that things have started to look up and we've been on a massive bull run since. The citi price has steadily climbed till its current heights.

However, jchong is right in that we'll probably see a reverse stock split soon, probably 4 to 1. The re-elected board is in favour of the reverse split, that's why they were voted in again by the US Govt. If so (4-to-1), the citi price will be around $20 and the govt will find it easier to get rid of their holdings. Cheers.

 

I remember Citi share price has undergone consolidating before, has not it? That is why the price we see is so high and up so much..... watch carefully!

loyfam88      ( Date: 20-Apr-2010 10:37) Posted: No. I loaded 4.26 last year. It then went down all the way to 3.30 and I loaded again. What is 3.96???? Now is already 4.88.

 

Just to addon to what Blackstreams has mentioned, >$5 is also the crucial level at which BBs/institutions are allowed to buy in. Who else can take up those 7.7bn shares that the US govt wants to offload? Its in Citi's best interests to make sure they stay above $5 to get those fund houses back in to buy its stock. At $5 itself is too shaky for the fund houses appetites, cos the moment it goes below $5, they have some trigger for sell off (3 months).........so this will be crucial to see how Citi pans out. I was vested once upon a time; now just watching from the sidelines. Quality of earnings still suspect plus share float of 29bn shares is pretty scary........at some time we can expect to see ala AIG reverse split. Reaching $10 would mean Citi is not too distant from Exxon in terms of mkt cap (aka valuation) so i have my doubts about that for now......... there's also those CDO time bombs to think about.........hope that i'm wrong anyways.......my $0.02 worth.

blackstreams      ( Date: 22-Apr-2010 00:51) Posted: loyfam88. We're currently at the crossroads with the current share price of $5. The quarter's blowout results means we'll not be revisiting the <$4 lows anytime soon. It's tested the $5 resistance recently but failed to make much headway. If it sustains itself above $5, concensus is that idle money will flood in and probably push it nearer $6. There are about 5 significant resistance levels above $5 so it'll be a slow staggered climb. On the other hand, some believe the SEC filing against Goldman is the pre-cursor of a concerted move against the banks (SEC is also investigating a case against Citi), so there's a danger it might be the catalyst that brings down the citi stock price. The good news is that call options are heavily in favour of citi being >$5 in May. So I think we've not seen the end to the upside for the moment. Also, the US market stock price moves in tandem with earnings, unlike the SGX which is subject to the whims of the BB. A company can announce fantastic results and the share price can drop back to normal after a few sessions on the SGX. Hence, unless there's some huge negative catalyst popping up suddenly against citi, I do not expect it to drop significantly in the near term. For me, I expect the US govt to start the staggered selling of their 7mil shares around $5.5-$6, so getting in at $5 might not be worth the risk vs the small gains to be made. Since u're already earning a 30% profit on your outlay, I'd suggest u either take some profits off the table (if trading) or hold for the moment (if having 2 year outlook). I'm waiting for Vikram to host the conference call to see what he says about the future prospects before deciding whether to sell or buy more. I currently see myself only buying some more if it drops back to $4.5. Good luck. loyfam88      ( Date: 20-Apr-2010 10:06) Posted: Do you guys feel that it's still fine to load? For long term view, probably yes but I am just wondering if it is the right time. My earlier holding is 3.30 and 4.26.

 

buy below $5 and do not look at it until 2012. Afterall u will laugh until see teeth not see eye just my 2 cents view.

loyfam88      ( Date: 20-Apr-2010 10:06) Posted: Do you guys feel that it's still fine to load? For long term view, probably yes but I am just wondering if it is the right time. My earlier holding is 3.30 and 4.26.

 

BTW, the US govt owns 7.7 billion shares, not 7million. Typo :)

 

loyfam88. We're currently at the crossroads with the current share price of $5. The quarter's blowout results means we'll not be revisiting the <$4 lows anytime soon. It's tested the $5 resistance recently but failed to make much headway. If it sustains itself above $5, concensus is that idle money will flood in and probably push it nearer $6. There are about 5 significant resistance levels above $5 so it'll be a slow staggered climb. On the other hand, some believe the SEC filing against Goldman is the pre-cursor of a concerted move against the banks (SEC is also investigating a case against Citi), so there's a danger it might be the catalyst that brings down the citi stock price.

The good news is that call options are heavily in favour of citi being >$5 in May. So I think we've not seen the end to the upside for the moment. Also, the US market stock price moves in tandem with earnings, unlike the SGX which is subject to the whims of the BB. A company can announce fantastic results and the share price can drop back to normal after a few sessions on the SGX. Hence, unless there's some huge negative catalyst popping up suddenly against citi, I do not expect it to drop significantly in the near term.

For me, I expect the US govt to start the staggered selling of their 7mil shares around $5.5-$6, so getting in at $5 might not be worth the risk vs the small gains to be made. Since u're already earning a 30% profit on your outlay, I'd suggest u either take some profits off the table (if trading) or hold for the moment (if having 2 year outlook). I'm waiting for Vikram to host the conference call to see what he says about the future prospects before deciding whether to sell or buy more. I currently see myself only buying some more if it drops back to $4.5. Good luck.

loyfam88      ( Date: 20-Apr-2010 10:06) Posted: Do you guys feel that it's still fine to load? For long term view, probably yes but I am just wondering if it is the right time. My earlier holding is 3.30 and 4.26.

 

I feel that DOW is just in the infant stage of its 2nd Bull run after the Financial Crisis.

It does not matter what you Buy now, most stocks will run during this stage.

I'm loading some US stocks too, but CITI is not one of them.

Mainly because its financial result is quite disappointing to me.

However, because of its high trading volume, CITI could be a good for short-term trading.

loyfam88      ( Date: 20-Apr-2010 10:06) Posted: Do you guys feel that it's still fine to load? For long term view, probably yes but I am just wondering if it is the right time. My earlier holding is 3.30 and 4.26.

 

hi, blackstreams is talking about TAT - Transatlantic Petroleum

 

No. I loaded 4.26 last year. It then went down all the way to 3.30 and I loaded again.

What is 3.96???? Now is already 4.88.

 

I prefer ICBC to CITI.

loyfam88      ( Date: 20-Apr-2010 10:06) Posted: Do you guys feel that it's still fine to load? For long term view, probably yes but I am just wondering if it is the right time. My earlier holding is 3.30 and 4.26.

 

CitiGroup

USD 3.96

stevenk      ( Date: 20-Apr-2010 10:27) Posted: hi, the highest it achieved is 3.96. is 4.26 a typo error?

 

hi, the highest it achieved is 3.96. is 4.26 a typo error?

 

Do you guys feel that it's still fine to load?

For long term view, probably yes but I am just wondering if it is the right time.

My earlier holding is 3.30 and 4.26.

 

Blackstreams congrats! Lets see this fella transform into a 5 or 10 bagger in a couple of years!

blackstreams      ( Date: 20-Apr-2010 03:05) Posted: jchong - thanks for the tip. Got my TAT at $3.66. Cheers.

 

jchong - thanks for the tip. Got my TAT at $3.66. Cheers.