1/12/09
Have anyone recall I had said do not buy Citigroup(C) at my post on 11/28/08. Let me repost it here:
As usual, holiday rally is in effect for this Thanksgiving Bear Market Rally. Yes, it is just another good Bear Market bounce. Do not get trap on this sucker rally, folks! The most important is 840 for S&P. If this get broken, retest lows is very likely. Do not chase on Citigroup stock "C", government is going to be the biggest stock shareholder. It loses two important reason to own this "C" for long term. Yes, it is rally very good. This is just the MM (Big Players) games. They all fully loaded between $3-$4, sell all to you (small investors) on the way up til $8-$10. I will bet "C" is on going to become $1-$3 stock within weeks. Good Luck. Again, this is my opinion and do not consider this is a recommendation. You should consult your financial advisor.
How many weeks since I said that?! $1-$3 for Citigroup. Look at the stock chart and did it get stop around $8-$10 range?! Am I once again close to predict the top?! Well, it is not yet to my target($1-$3). Today, C is closed at $5.60 per share. But, I guess everyone know what I really mean. Citigroup is tossed. It needs to breakup into pieces. CEO pandit is going to sell what worth a $$ to keep the core banking business only. Citigroup to Citibank is more likely during this year.
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