C is looking tempting here but the biggest questions is how will the overall market holdup in the next couple of months? It may take down C with it.
You ever listen to Ozzy Osbourne's Suicide Solution? I'm not a big fan of Ozzy myself, but I thought I'd mention it to you.
What was it that prevented Goldman from issuing this SELL call weeks or months ago? Also, Eddie is averaging down a large existing position. He almost has to, don't you think?
To downgrade C to a sell now is quite sad, as big as GS is they should have seen these write downs coming months before the very first few took place. To downgrade C after the fact is just a waste of time. They should have downgraded the stock at the 42-44 area not at 52 week lows.
You can count the number of "Sells" issued by the Street on your hands - its a rare thing. Wall Street analysts do NOT issue sell signals - its suicide for the IBs/BDs in regards to future IB business with clients. Everyone knows that when they switch from "buy" to "neutral", thats code for sell. Even if GS has no business to gain from Citi on the IB side, the fact that GS is issuing a "sell" so late in the game is suspicious. GS may be intentionally adding fuel to the fire to gun Citi lower.......only to buy hand over fist somewhere down the line. They don't call it a Chinese Wall for nothing at IBs/BDs. And if you think the timing of Wall Street Analysts' buy/neutral/sell signals is criminal, look at the credit rating companies such as S&P, Fitch, Moodys etc - a company defaults on its bonds, and THEN the ratings agencies downgrade the company. Talk about Monday morning quarterbacking...........
whoever backed up the track on this is hurting for sure ouch and ouch I'm going to buy at $5 lol no, at 2.75, just call me prince smokesallodaweed