Stephen Cooper

Citigroup (C)

Hanger said: "DISCLAIMER- Have been up all night....so this may appear like rambling lol.... Any chance anyone saw the action on Friday these guys were getting. The stock itself went over 3x the avg volume. The options wow...Citigroup averages just under 45,000 contracts/day, but Friday they had more than 230,000 contracts. The calls were over 80% of the day’s trade. The stock price exceeded the 52-week highs, [B]but[/B] I don't think we have seen the last of this one, seems to be getting a solid push for whatever reason. Whatever the news is, seems like it is going to be bullish...I remember hearing about a leveraged buyout, but dont remember the exact details. Looking at the chart, I definately feel as though I missed the boat here, and not sure how. MACD crossed this week, blah blah all the good stuff.... Just boggling my mind the action this thing has gotten, since I think I missed the boat, may have to sit back and see where this pans out, has to be some news somewhere...Or is always the possibility of a daytrade before expiration ......"

JohnL said: "The news is a nutty rumor that Citigroup may be splitting itself up in order to boost the stock price. This is, of course, a rumor by Prince Alwaleed bin Talal to put him into the positive for the year. :whacky011:"

Hanger said: "I was just browsing away, any news of what they are going to spin off? Guessing they saw the success of First Data with the Western Union spinoff? I really don't understand this, its not like Citigroup is lagging the rest of the sector, your probably right, a late year push and to get the Citi name back out there Will be fun to watch it depending when they actually confirm or deny this might be able to play it on a short term... Probably going to run on Monday due the the King of the Talking Heads Cramer getting upset Friday that he wasn't "in" on the rumors of Citi..... I guess I should have put this in the Lets Talk Stocks forum......boy, judging where to put these is going to be tough... Ok back to options, heavy volume on the Jan 55 Calls for this, have to look at the chart again, but definately might be seeing a good opportunity for a quick double up. Closed with a bid/ask of .20/.25, another dollar run next week and they should double up there. [B]Risky play [/B]but with a small amount of capital a nice amount contracts may be in order. Would love to see a slow start on Monday, especially with the expiration day next week, maybe get an opportunity for a cheap buy in. One plus is they report the day of expirations next month before markets open..... Anyways, like I said have to look at the chart, but this could be a great momentum play for the next week or 2. And I feel Jan 55 Calls at that price with the rumors swirling are cheap. Biggest problem I see is the holidays and your already set up for a short options month. Man, sure does sound like I am trying to talk myself into Citi LOL Disclaimer-My tolerance for risk is probably higher than yours, do your own homework.."

Mr. Gekko said: "Cramer was pissed on Friday about Citi. He said the SEC ignored comments from Citi saying they had "no idea what made the volume in their stock spike" and that the SEC needs to investigate. 54 mil. when the average is 16 mil. [I]is[/I] eye popping. :dazed052:"

Hanger said: "[QUOTE=Mr. Gekko]Cramer was pissed on Friday about Citi. He said the SEC ignored comments from Citi saying they had "no idea what made the volume in their stock spike" and that the SEC needs to investigate. 54 mil. when the average is 16 mil. [I]is[/I] eye popping. :dazed052:[/QUOTE] Right I was reading that, and kind of got that, anyways, here is the thing that gets me, "It seems some people knew that it was going to go higher, while others where left in the dark", he said. Is that not the whole basis of the stock market? Heck Cramer himself is cause for 2% gains on stocks all the time....so I don't really understand his saying he is outraged. Its possible Citi did something/release a rumor, but albeit companies do it all the time, perhaps just not on this scale....When Cramer was all over LVLT that little $5 stock was getting crazy action...but whatever, he is a very smart man I will give him that.... The huge jump in volume and contracts should be cause enough for the SEC to atleast look into it, but right now with the information I have read, I can't see anything being done about it."

Mr. Gekko said: "[QUOTE=Hanger]Right I was reading that, and kind of got that, anyways, here is the thing that gets me, "It seems some people knew that it was going to go higher, while others where left in the dark", he said. Is that not the whole basis of the stock market?[/QUOTE] Acting on insider info = jail time.:cop:"

Hanger said: "[QUOTE=Mr. Gekko]Acting on insider info = jail time.:cop:[/QUOTE] Right, I was hoping that Cramer wasn't pointing fingers and that it was he merely felt out of the rumor network. Trying to give someone the benefit of the doubt hehe"

FirefighterB said: "[QUOTE=Mr. Gekko]Acting on insider info = jail time.:cop:[/QUOTE] Maybe Martha had a show about sprucing up the cell and people forgot all about soap on a rope."

Mr. Gekko said: "Citigroup names Robert Druskin as their new COO. [URL="http://biz.yahoo.com/ap/061211/apfn_citigroup_personnel.html?.v=1"]http://biz.yahoo.com/ap/061211/apfn_citigroup_personnel.html?.v=1[/URL]"

Mr. Gekko said: "The stock tanked after hours in reaction to the news... down 1.51%. Very interesting."

Hanger said: "Citigroup CEO Chuck Prince denied speculation that Chief Financial Officer Sallie Krawcheck would leave the bank. He also denied the company would spin off its major businesses, saying such reports were speculative and "groundless." Buy the rumors sell the news...I like when they say speculative and "groundless"...... Very good possibility we see C come back below 50 here if the run up the past 2 weeks was just based on that speculation..will be an interesting time to watch Citi."

Hanger said: "Weeee another opportunity come and gone....."

holzie said: "[QUOTE=Hanger]Weeee another opportunity come and gone.....[/QUOTE] Don't chase it at this point of the game....."

Hanger said: "[QUOTE=holzie]Don't chase it at this point of the game.....[/QUOTE] Oh no way I would chase it here...just stating a point.."

holzie said: "I knew you wouldn't :)"

Hanger said: "LOL, I think we are the only 2 on the board...I need to quit checking back here after running screens lol.... Sometimes its just nice to be able to look back and say, hmmmm....but honestly...I didn't have a reason to buy Citi back when I started the thread...so didn't really miss out on much.."