Posted by: fortunefaded April 15, 2009
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"Citi group is releasing their first quarter
report on 6:30am on 4/17/08, and I am positive Citi will have profits.
This news ought to push Citi stocks higher."
I disagree. Even when Goldman reported better than expected profits, GS stocks slumped the next day. Same thing happened with Intel. The market has already factored the profits into the price of Citi stocks and I would wait till Friday to see how it responds. Citi's stock was getting a bump due to Wells Fargo's huge profit report. Unless Citi reports that kind of profit, I don't see the stock going anywhere.
Also, have you check out the volume on short interest on Citi? It's the highest since last April.
report on 6:30am on 4/17/08, and I am positive Citi will have profits.
This news ought to push Citi stocks higher."
I disagree. Even when Goldman reported better than expected profits, GS stocks slumped the next day. Same thing happened with Intel. The market has already factored the profits into the price of Citi stocks and I would wait till Friday to see how it responds. Citi's stock was getting a bump due to Wells Fargo's huge profit report. Unless Citi reports that kind of profit, I don't see the stock going anywhere.
Also, have you check out the volume on short interest on Citi? It's the highest since last April.