Monday, August 24, 2009
A week ago I recommended CityGroup (C) Since then the stock has risen 27%. It rose to over $4 for the first time since April and is now knocking on the door of $5.00. As the economy continues to improve and these large banking firms shed their toxic assets, their bottom line will improve and their stocks will go up. CitiGroup is showing all the right signs. It is also trading over a billion shares daily. The recent numbers on the housing market will also help. This stock is still very cheap and a lot of shares can be bought for relatively little. Even more options can be bought.
Cheers! Here's to hoping it is a good day in the market!