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C - Citigroup - Page 421

post #8401 of 8500

reverse splits are desperation moves... its like putting lipstick on a pig... Actually its more like the guy who changes his $20 bill into 20 $1 bills so his wallet looks like it has more money

 

where did all those people who said "C will never reverse split" go?

post #8402 of 8500

so are you thinking of may puts? the reverse split is definitely going to kill it's volume.
 

Quote:
Originally Posted by charulz View Post

reverse splits are desperation moves... its like putting lipstick on a pig... Actually its more like the guy who changes his $20 bill into 20 $1 bills so his wallet looks like it has more money

 

where did all those people who said "C will never reverse split" go?



 

post #8403 of 8500

Silly question, but if you own an odd number of C shares what will happen to the remainder after the split?

post #8404 of 8500

Does anyone think that Citi will get back to $5 anytime in the next few months?

post #8405 of 8500
Quote:
Originally Posted by LuckyOne View Post

Quote:
Originally Posted by ryerras View Post
WSJ says

Charles Prince has resigned as Citi chairman and CEO. Robert Rubin to be named chairman. Sir Win Bischoff will be interim CEO. Citi to take $8 billion to $11 billion in additional writedowns.
Damn, just what we didn't need. More writedowns.


Ya, too damn bad for the stock....

 

post #8406 of 8500

ive had a buy order at $4 for the last 3 months....i think we can get there!

post #8407 of 8500

I would say wait until after the reverse split.

 

Quote:
Originally Posted by ze20001984 View Post

ive had a buy order at $4 for the last 3 months....i think we can get there!



 

post #8408 of 8500

I am thinking about 1k before the split and have another 1k for after just incase there is a drop,  I know in my head that there will be a drop afterwords but you just never know these days. when aig had there 1/20 split it was up and down consistantly for a few months but always going up.  I know that these are two diffrent companys but hope there will be some of the same consistancies between them with how the price went... or I dont know what I am talking about and will loose my ass but thats the exciting part of it I think

post #8409 of 8500

when do you expect the reverse split, and is a put option any good for this?

post #8410 of 8500

I'm looking up C on Google finance and they've indicated a split at the opening of today's market, but I read a report on the Citi website saying it would happen after today's close. Can anyone confirm any of this?

post #8411 of 8500

it's after today and it will take effect monday. google updated already but if you look at the current price for C, you'll notice 4.55 and not 45.50
 

Quote:
Originally Posted by stock fiend View Post

I'm looking up C on Google finance and they've indicated a split at the opening of today's market, but I read a report on the Citi website saying it would happen after today's close. Can anyone confirm any of this?



 

post #8412 of 8500

Is this a good time to buy C shares?

post #8413 of 8500

I was going to buy today right before the end of the day to take a posistion but I cancelled the order.  I am going to wait and see what happens on Monday.   I see this coming down some.   I hope Im right

post #8414 of 8500

Welcome to C post split!

 

This reverse split is not going help IMO, the sector is down and now C has room to the downside unless the financial sector finds some support.

 

 

post #8415 of 8500

A little confused here....is the current price correct at ~$44?

 

/newbie

post #8416 of 8500
Quote:
Originally Posted by matpal View Post

A little confused here....is the current price correct at ~$44?

 

/newbie


Sure is bud, the stock was split 1:10. Meaning if you had 100 shares, you now have 10 at the same value.

 

post #8417 of 8500

I took a look at the levels here, this -2% move after the split IMO is typical after a reverse split, but all you will hear in the media is about how great the RS is because now large firms that could not buy a stock below $5 will be piling in. Well, piling they are, but piling out more like it.

 

The $44 has been support over the past 6 weeks, you can see there have been trades below $44, but that area has held.

 

There is a clear downtrending resistance level from Jan peak, it is safe to say that C has been in a downtrend since hitting that $51.50 high. That downtrend has yet to be challenged successfully.

 

There is long term support level in the $42 range.

 

So what does this all mean?

 

Longs will be watching $44, if they see continued weakness through this level, $42 is the target. If that $42 fails, then run for the hills because a major support level got taken out.

 

C_TA.gif

post #8418 of 8500
Quote:
Originally Posted by StockJock-e View Post

I took a look at the levels here, this -2% move after the split IMO is typical after a reverse split, but all you will hear in the media is about how great the RS is because now large firms that could not buy a stock below $5 will be piling in. Well, piling they are, but piling out more like it.

 

The $44 has been support over the past 6 weeks, you can see there have been trades below $44, but that area has held.

 

There is a clear downtrending resistance level from Jan peak, it is safe to say that C has been in a downtrend since hitting that $51.50 high. That downtrend has yet to be challenged successfully.

 

There is long term support level in the $42 range.

 

So what does this all mean?

 

Longs will be watching $44, if they see continued weakness through this level, $42 is the target. If that $42 fails, then run for the hills because a major support level got taken out.

 

C_TA.gif


Thank you! :D For a newb like me to understand what you just explained, I think I've been making some progress in my stock market education and ventures. I've been watching this stock since last year because I want to find a prime time to jump in for the long run (Anything to help pay some tuition ;))

 

post #8419 of 8500

am I wrong for hopeing that this will tank.

post #8420 of 8500

Man this company is so disappointing, held for 2 years and finally pulled out few weeks ago cause I heard they was going to change names. The highest it ever got was what i bought in for @ $5.30, I guess it spilt 100 to 10 few days ago. Good thing I got out. Shitty ass citigroup, when is it going to change into Onemain?

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