Markets were up again today, but Citi did not outperform the rest of the market like I had hoped. I would've done much better if I had just held onto UYG. As I mentioned, I don't want to be holding Citi long (too risky, even if it could easily go over $2), so I just sold it off near the close today for about a 15% gain.
Trades:
Sold Citigroup at 1.63 (bought at 1.42) for a 15% gain in 3 days.
Showing posts with label C. Show all posts
Showing posts with label C. Show all posts
Thursday, March 12, 2009
Wednesday, March 11, 2009
Citigroup
Citigroup was up 15% in the morning, but closed up only 6% at 1.54. I actually decided last minute I'd get out at the close, but my order was too late and didn't get filled. So we'll have to see what tomorrow holds.
On an unrelated note, DXO has been dropping. Last time it was at 1.80 I knew I should be buying, and it went on to reach 2.60 or so. Oil is dropping again (down to $42) and DXO is down to 2.22. I'm hoping it drops down to the 1.80's again, and if so, I think I will find some money to buy a whole bunch more to lower my average. Oil seems to have found its support in the $40's and any dip into the 30's is a great buying opportunity. And of course we'll be laughing once it returns to the 60's or 70's at the end of the year... that's the plan anyway :)
On an unrelated note, DXO has been dropping. Last time it was at 1.80 I knew I should be buying, and it went on to reach 2.60 or so. Oil is dropping again (down to $42) and DXO is down to 2.22. I'm hoping it drops down to the 1.80's again, and if so, I think I will find some money to buy a whole bunch more to lower my average. Oil seems to have found its support in the $40's and any dip into the 30's is a great buying opportunity. And of course we'll be laughing once it returns to the 60's or 70's at the end of the year... that's the plan anyway :)
Tuesday, March 10, 2009
Trade Update - C
I bought some Citigroup near the close at 1.42. I know, I know... I tell everyone I'd never buy any banks, and then I go and buy Citi on a day that it's already skyrocketed up 35% :-)
I'm betting on another +30% day for it tomorrow, however unlikely that might be. The reason it's up is because of news from their CEO that they were actually profitable for the 1st two months of 2009. Because the stock price has been completely trashed up until now, and now there's finally a bit of good news, I'm expecting more people to jump on board tomorrow. Even if it pulls back tomorrow, I think I'll hold on for a couple of days before selling. We may be in a short-term market rally here, and I think Citi will recover to the $2 range. I'm not holding for more than a few days though.
I'm betting on another +30% day for it tomorrow, however unlikely that might be. The reason it's up is because of news from their CEO that they were actually profitable for the 1st two months of 2009. Because the stock price has been completely trashed up until now, and now there's finally a bit of good news, I'm expecting more people to jump on board tomorrow. Even if it pulls back tomorrow, I think I'll hold on for a couple of days before selling. We may be in a short-term market rally here, and I think Citi will recover to the $2 range. I'm not holding for more than a few days though.
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