Investing in CitiBank

I recommend that you could start accummulating shares when the stock price dip. Citi's Primerica stake will have an IPO sometime this week.....all proceeds will go into Citi's coffers, which could push its stock price. Don't chase Citi but be patient and look for some sell-off. It would be a screaming buy below $4. The next two months will be busy months with many economic data and political uncertainties. Watch the S&P dip below 1150.....a sign for some sell-off between 5% to 10% when traders will "sell in May and go away" (on vacation?).....the chatter of many technical analysts......of course depending on economic and political news.

Richard Bove, known as Mr. Gloom and Doom, who predicted that our financial insitutions would get hit hard in 2008 and after the market hit bottom in mid-2009, changed his position that financials will be a once-in-a-lifetime buying opportunity, particularly Citi.

Lucas at the Arcade

Happy Paddy's Day!

May the Road rise up to meet you
May the Wind always be at your back
May the Sunshine warm upon your face
And for Those who read my blog
May your Fortune turn around
And fill your Coffer with a Pot of Gold!