Should I buy Citigroup?

[BumbleBeeGTO]

Well I am debating about buying Citigroup for the long haul. They are at $4.34 right now. I don't have a lot to play with because the car payment and school, but I see this as a stock that will pay off big time in the future. Anyone else here planning on buying Citigroup?

What do you like about it, and not like about it? I am on the hill here, I know I should but at the same time I question it.

 

[spitin venom]

I am not too sure about them but from what they did to me I think they are not in the best shape. I have a pretty high limit credit card with them for about 10 years now and always pay on time. I owe nowhere near the limit and have excellent credit. 2 months ago they sent me a letter saying that they were dropping my APR because of my credit/payment history. Yesterday I got a letter from them saying that they are closing my credit card acount next week. I called them and some guy with a heavy Indian accent answered the phone. I asked them why they were closing my account and he gave me BS answers that didn't make any sense. It sounded like he was reading from a script.

Desperate times call for desperate measures. What they pulled on me makes it seem like they are short on cash and are not doing so well. I could be wrong tho. Just my $.02

 

[divided]

From everything ive been reading right now is a great time to buy Citigroup. I agree as well. They push it hard on 'Mad Money' with Jim Cramer which is actually a really good show.

 

[Hmbre97]

They push it hard on 'Mad Money' with Jim Cramer which is actually a really good show.

lol

 

[DuffManRHA]

IIRC the US Treasury is planning on dumping their stock, so if anything the price will be going down in the near future.

Of course, you could buy some Put options right now

EDIT : Here ya go http://www.businessweek.com/news/2010-04-26/u-s-treasury-to-sell-1-5-billion-shares-of-citigroup-stock.html

If you are interested in getting into stock trading, start reading some good stock journals. A great source that I have used is Motley's; it is geared towards people with little to no trading experience and I have made some good money using some stock suggestions from there, even before I became licensed (CA Life-Only, Series 6 and 63).

 

[03Saleen]

Buy Ford they beat estimates big time today.

 

[BumbleBeeGTO]

Buy Ford they beat estimates big time today.

Ford is the other one I am looking at. I am for sure buying Ford, but I am on the hill with Citigroup.

 

[Wishing4Cobra]

The way Ford is going, why not put some money into ford?

 

[aaandht]

push it hard on 'Mad Money' with Jim Cramer which is actually a really good show.

:lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:

 

[codyPKA]

disclaimer- i am no expert

how much money are you looking to invest? if its not a lot i say go for it. Seems like a boom or bust type stock. considering how low it is right now, unless you are investing a large sum of money, you dont stand to lose a whole lot even if it tanks further. and on the other hand citi could "pull a ford" and skyrocket, and you profit big time.

boom or bust stock but its low risk high reward.

but like i said i'm no expert, just using logic

 

[s_x_i]

EXTREMELY high risk, poised to breakout.

IGNT
BIEL
HCSS

Buying for the long haul to try to make money, I'd look at good mutual funds with strong 15 year or more track records.

Edit: No, I wouldn't buy Citigroup.

 

[chinchilla]

I own citi and ford, citi will probably go down when the govt sells off its shares, ford will probably slowly go up if their sales stay strong. the thing that worries people about ford is their debt and if they can maintain this strong comeback they are on, which I think they can and they are working on paying the debt off, so its a good long term buy.

just my .02

 

[wvmystichrome]

I had this same thing happen with my 2 BofA credit cards. Only thing was they closed mine without telling me. Also Sears did the same. When they came out to repair my refirgerator after the power outage in December I gave them my card to pay for the repair. It was rejected. I called and they said that the card was cancelled 2 years ago. I said I just got this car in the mail 6 weeks ago. They said no. I think they are just trying to make their bottom line on open ended credit look better.

 

[KurtDog]

Well I am debating about buying Citigroup for the long haul. They are at $4.34 right now. I don't have a lot to play with because the car payment and school, but I see this as a stock that will pay off big time in the future. Anyone else here planning on buying Citigroup?

What do you like about it, and not like about it? I am on the hill here, I know I should but at the same time I question it.

I bought it at 3 sold it at 5. I'd wait untill the feds dump all of it. It should hit 4 agian soon.

 

[DuffManRHA]

EXTREMELY high risk, poised to breakout.

IGNT
BIEL
HCSS

Buying for the long haul to try to make money, I'd look at good mutual funds with strong 15 year or more track records.

Edit: No, I wouldn't buy Citigroup.

Have you seen the recent mutual funds and ETFs w/ little (less than 1%) to NO sales charge? And these are Class A shares to boot! Check out Fidelity's new funds, and PM me for the other ones (can't remember off the top of my head); just some friendly advice from one person with their head on straight to another :beer:

OP - Take all the advice given for what its worth, but I am telling you, do NOT buy any citi stock, or any bank stock for that matter. As I mentioned before, when the US Treasury dumps its holdings, the stock IS going to drop. Further, as the banks are starting to pay back their money, and the environment is cooling off, there is going to be a LOT of negative attn for banks/investment houses; Goldman Sachs was just the beginning, trust me.

 

[g00se]

lol

:lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:

Just curious, why do you guys think it's not a good show?

 

[Jimmysidecarr]

I certainly am no expert but my wife works at JP Morgan Chase, not at a branch but in commercial lending.. you know Hospitals and malls and such.

I would not buy Citi they have a damaged reputation in my mind.

I would have bought Ford last year if I wasn't so sick, and I would buy it now but for lack of extra cash.

I think JP Morgan Chase with Jamie Dimon http://www.jpmorgan.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about/governance/members/dimon
are a much better bet, the guy is a genius, cleaned up his company way before the recession hit, the feds FORCED them to take TARP, essentially threatened him, and they paid back before anyone else.

A much healthier company IMHO.

 

[65fastback2+2]

Just curious, why do you guys think it's not a good show?

most any investor on our level wouldnt touch a banking industry stock with a 10 foot pole

 

[rubber duck]

If you believe the economy is in a sustained recovery, then yes it's a buy. If you don't believe in this recovery, then no.

With that said Citi has posted some good earnings and has good cash flow currently. Look for shares to dip a little more until the Treasury is done selling off this chunk of shares. If you can get in at the low $4 or even high $3 that would be a good entry point. I'd wait it out a little longer, I think the price will still drop overall, even if there's a positive trading session here and there, financial sector investors have had a scary week. I know I got a little haircut before I got out. :burn:

 

[Dominion]

EXTREMELY high risk, poised to breakout.

IGNT
BIEL
HCSS

Buying for the long haul to try to make money, I'd look at good mutual funds with strong 15 year or more track records.

Edit: No, I wouldn't buy Citigroup.

BIEL.PK: Summary for BIOELECTRONICS CORP- Yahoo! Finance

IS that what youre talking about?

I get sick everytime i think about me not investing 1K like i wanted to in ford back when it was .95 a share.


I would like to buy in ford but im going to wait a little to see if it comes down more.

I would like more of an aggressive plan as to long term.


PS. Im 100% noob at this.