The fact that everyone is looking for a bottom in housing, homebuilders and lenders means we are not there yet.
The stock is trading in a consoloditation range after the huge downturn in the financials since Jan '07. Having lost approximately 1/2 its value, I'd say there's more risk to the upside (for pontial shorts) than to the downside (for pontial Longs). It is still in bullish mode, and considering the lack of leverage that is used to purchase stocks it still represents a solid hold if the OP has already purchased it at higher levels. Good trading, I
Classic misjudgement.... C $ 29.53 Citigroup Inc. -0.92 Shares Short 104,873,200 Days to Cover (Short Ratio) 1.3 Short % of Float 2.11 % Shares Short - Prior 84,849,100 Short % Increase / Decrease 23.60 % Squeeze RankingTM -1 % from 52-Wk HIGH ( 57.00 ) -93.02 % % from 52-Wk LOW ( 29.34 ) 0.64 % % from 200-Day MA ( 50.84 ) -72.16 % % from 50-Day MA ( 43.99 ) -48.97 % Price % Change (52-Wk) -44.80 % Trading Volume - Today 31,985,542 Trading Volume - Average 81,700,100 Trading Volume Vs. Avg. 39.15 % Total Shares - Float 4,960,000,000 Total Shares - Outstanding 4,981,134,274 % Held by Insiders 0.39 % % Held by Institutions 65.00 % Market Cap 147,092,895,111 EPS 3.72 PE Ratio 8.20 Sector: Financial Industry: Money Center Banks SI Record Date 2007-DecB
Fun reading thread, but then again I'm pretty bored today, LOL. Regarding short interest, many people are still making the same mistake when reading shares short in the open market (trying to predict possible short squeeze). With all the derivatives that are out there, many traders/firms/insitutions will have hedged short positions to collect short stock interest. Reverse conversions with options, SSF's, etc. Just something to keep in mind. Happy New Year! Don
BGP, percentage wise nothing scary about C today... even with the bad news... look at other stronger stocks, lots of them are still down... I personally expect it to test the previous support before it bounces (if)... regarding the dividend cuts... don't you think it was already accounted for in the price? I think so...
i think C is gonna get wacked hard to 25...too many think this is a bottom...Citi is floundering at the bottom it doesnt even bounce.Even when the CEO left the stock tanked 8 points...You would think something positive would happen....The only thing you hear is every body saying this is a bottom....who knows but i think there are better trades out there....on citigroup, going long is just a guessing game