Everybody loves Apple but from what I’ve gathered many of us also own banks and in particular Citi-bank. Are there enough of us to keep a separate Citi-bank discussion going?

Citi-bank press release:

New York – Citigroup will issue its third quarter 2009 results via press release at approximately 8:00 AM (EDT) on October 15, 2009. Results will be reviewed via live webcast and teleconference at 11:00 AM (EDT).

The press release, webcast and presentation materials will be available at http://www.citigroup.com/citi/fin. A replay of the webcast will be available at http://www.citigroup.com/citi/fin/pres.htm.

To dial-in to the live teleconference, please call (877) 700-4194 (for U.S. and Canada callers) or (706) 679-8401 (for international callers). Conference code: 28581886. Telephone lines will open at 10:45 AM (EDT).

I’m game…  Small 2011 2.50 LEAPS position…

1,000 C shares.  Deep underwater.  Would be pleased to listen to what you guys have to say.

Small position in 2011 leaps. All I know I read in TMO.

Not just Citi, but maybe any information dealing with any of the banks would be useful. I own some C, but most of my eggs are in the BAC basket.

Thanks Eric  

Would be interested to. 25*100 Jan 11 2,50 Options on hand

I’d definitely be interested in that discussion.

I’m game, with too many shares of C to feel confortable.

The big question lately is “Will the government sell their shares without warning and drive the share price down?” Followed closely by “Will there be a reverse stock split and when?”

Although the real question should be, “Who in the Treasury leaked the fact the gov was planning on selling, and is that information for real?” Any news that comes out when there is heavy shorting on a stock as it approaches option expiration is and should be suspect.

We’ll have to see what next week’s OE free zone can do to the share price. But when a billion shares trade in a day it’s being traded like a penny stock, which is not good for investors.

I’m also interested in this thread.

I own some Jan 2011 5 calls, plus some shares.

I’m assuming most people are holding C for the long term?

I also own some FRE and FNM which I have been selling covered calls on.  Didn’t get called on the Sept 2 FREs, and sold some for Dec and Jan for some decent returns.  Unless of course it drops big time.

Alright Mr. Landstrom - you are the mod - get this puppy started…  I’ll be the first to admit I have not looked at C’s financial statements to gauge their financial state.  I don’t think we can rely on the street’s interpretation.  John Paulson though took a big stake this summer right?  Some whales you do want to follow throughout the sea…

i think the thread is a good idea.
i bought some C last month and got burned. but i am thinking of dipping in again.

as well as aapl, i own some FRE - waiting for the pop . . .

Count me in Eric.  I got into C at $3, and figured that it would double much sooner than AAPL would.  That said, it is blatently gamed. I take a pretty simplstic view.

It is not going to fail.

It has massive emerging markets exposure.

It still has plenty of able employees and management.

If you have nerve, it is just the sort of stock that could shoot up without warning.

It is not even trading at book value, whereas banks typically trade at multiples of book value.

Sure, there are risks ahead. But does anyone seriously think that the USG are going to do anything other than come out of it at a profit?  Have faith chaps and hang on in there.

Citigroup CEO Vikram Pandit discusses his struggling firm’s outlook and the financial crisis with BusinessWeek Editor-in-Chief Stephen Adler. Recorded Sept. 17, 2009

I’m sure the gov will wait to emerge with a profit, but until they announce a plan to sell, the doubt allows manipulators to create scary rumors that lead to the stock being precisely controlled. While I agree that C can shoot up unexpectedly (as when it was revealed Paulsin had a 2% stake) it can also be driven back down by shorters and MMs. This makes it a perfect candidate for swing trading, which of course adds to the volatility and uncertainty. Between now and earnings (Oct 15), C may top 5 again, possible more than once—possibly even next week. But I don’t expect any visit there to stick for long, at least not until earnings prove their are turning around.

I have just watched the video that I posted the link to above.  It is an hour long, in depth and very upbeat.

Monday

R4         4.99
  midpoint   4.88
R3       4.77
  midpoint   4.66
R2       4.55
  midpoint   4.48
R1       4.41
  midpoint   4.37
PP       4.33
  midpoint   4.26
S1       4.19
  midpoint   4.15
S2       4.11
  midpoint   4.00
S3       3.89
  midpoint   3.78
S4       3.67