Is it too late to get Citi?
Just got back from vacation. Did I miss the boat?
Answers
4085 points
EthanR answered 8 months ago …
If you believe that Citi will someday be $10 or $20 again, then it is certainly not too late to buy it. However, on a very short term basis, the stock is overextended. Having jumped from 1.00 to 2.30 in a week, you may want to either dollar cost average into it, or wait for a pull back. If you buy it at 2.30 and it pulls back, say to 1.65, a typical 50% retracement, then you will have quickly lost a large chunk of money. If you can handle that, then it doesn't matter even if you buy it now.
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112 points
apdset58 answered 8 months ago …
I'd have to agree with EthanR. Based on charts, and charts only, I do see a pullback in the works, very soon. Just a thought, and based on my experience even on this trade - Citigroup. . .
I recently bought 1000 shares of Citigroup (C) at 1.3099 a share. It jumped to 1.68 a share. I then sold enough shares to recoup all of my cost in the initial purchase (+/- a little, that is). I am now "playing with the houses money". Maybe you could use such a "strategy" here. But, I would wait for a pullback as I do think it will very soon.
I actually have a system that will tell me when to get back in on this stock, or any stock for that matter. The system is 80% accurate and pulls a 5-25% return per stock with very little downturn risk, three times a year (approx.). It has realized gains, per year, of anywhere from 15-75% and has been time tested for the last several years. This system has never had a negative return. It hasn't even gone below 15% annually. And the best part (IMO) is that the system is only in the market approx. 25% of the year. That means, when you are "out of the market", you can take those profits and principal (or whatever combo you like) and invest it into other stocks or, like I do, put it into a Money Market until the next signals fire a "BUY" using my system ("MFA1").
If you are interested in receiving updates on this system, feel free to drop me a line at "apdset58@yahoo.com". Currently, using this system, the stocks are up and average of 8.02%. Over the last year, the system fired "BUY" stocks are up approx. 20%, even in this Bear Market. The Dow, on the other hand, is up approx. 4% since the system fired "BUY" signals about 5 days ago. And, for the past year, the Dow is down about 39.0%.
Regards,
Steve
Principal
$ET FINANCIAL
apdset58@yahoo.com
356 points
Dusty answered 8 months ago …
The Market drop we just experenced was in the script. Now there is the standard Dead Cat Bounce in progress, maybe even a genuine Bear Market Sucker's Rally. Expect a big drop soon, but in worst case in August or September. The script calls for a bigger Market drop in the middle fall of 2009 and a mixed Christmas season. The biggest collapse is scheduled for Febuary 2010 through April 2012 inclusive. Be prepared. If there is anything good to say, it is that the script calls for a general recovery beginning in the summer of 2012. That also means that "The Bottom" will be in the winter of 2011-2012. Be very careful with your cash or wealth. Lots of time to buy when stock prices are so low it is necessary to dig holes in Wall Street to find the shares.
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smi answered 6 months ago …
You havent missed the boat.. Its arriving late. Dont leave catch it up before it leaves. Citi is best option for long term investment. It might be an idle stock in your Bouquette for some period but it will earn you more than the worth you invest and return you expect.. So Better invest in it if you got patience and if you planning big..
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