Citi survived and now the government is out of the picture. I hate the 29b O/S and agree with USMC about citi needing to do a R/S or start buying back shares for this to really take off. Even if they don't, I think citi has the potential to keep going up slowly and with the PPS over $5 more institutions will start buying.
Citi is a long hold for me. I don't know how it will do in the short term, but feel it will do much better in the coming years.