Round Trip Citi
I am on vacation and will be out all day, but I get a sense that Citi could be a good short and long trade today. A short at the current level of $3.42 followed by a cover and follow up buy around $3.31, with a later sale of that position around $3.38, could probably be had. I wouldn’t make this trade if I wasn’t available to bail if things went bad, but I have a sense that we will see these numbers.
Good luck to anyone who gives this a shot. Today’s activity could very well be a good amount of short covering leading up to earnings.
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