I'm wondering if after being forced to buy AMD I shouldn't go in for Citibank as well.. They have sustained such a blow... are their annual reports out yet?
Personally I would let them bleed out for a little while more. The mortgage mess is not over.. in fact we're just beginning to see the real extent of the damages. Pull up a chart of historical housing prices and you'll see we are still way, way over where we should be. Throw is a slowing economy, rising defaults on credit cards, a drop in consumer spending, a big bump in inflation and it ain't pretty. It's impossible to time something like this but I wouldn't reflexively view a 52-week low as being a buying opportunity. That they have taken the write-down, laid people off, and sought investment has all helped but sentiment seems to be that we haven't seen the bottom of it yet. Me, I'm sitting happily with ETFC.
Top 2%
arawak
Jan 16 at 6:44 ET
Personally I would let them bleed out for a little while more. The mortgage mess is not over.. in fact we're just beginning to see the real extent of the damages. Pull up a chart of historical housing prices and you'll see we are still way, way over where we should be. Throw is a slowing economy, rising defaults on credit cards, a drop in consumer spending, a big bump in inflation and it ain't pretty. It's impossible to time something like this but I wouldn't reflexively view a 52-week low as being a buying opportunity. That they have taken the write-down, laid people off, and sought investment has all helped but sentiment seems to be that we haven't seen the bottom of it yet. Me, I'm sitting happily with ETFC.