Should I buy citibank at these levels I already own it at 22 dollars?

Question

Should I average down or wait till it gos lower

Answer 1

Financials are a black hole right now...no one knows if or when they will dig themselves out of this mess. Don't throw good money after bad...look to other areas to partially re-coup your losses.  Nat resources, metals/mining, nat gas...shipping goes on "runs"...energy..stuff that people NEED, not just disposable income items...( there's not much disposable income around these days)

Answer 2

Does Warren Buffett own it ?

    Sell it and buy WFC owned by WEB

Answer 3

Does Warren Buffet own it...?

If you are buying after the fact that Warren Buffet, or some other investment guru says so, then you are buying a hyped up stock.

It's never a good idea to average down. The stock's price is down for a reason. The market is an efficient discounting mechanism. The stock's current price factors in fundamentals that may or may not be evident to you at this time.

Why not look at other stocks, or invest in a different asset class instead? I don't see the stock market reversing any time soon.

Hope this helps!

Jim http://jsforex.blogspot.com

Answer 4

Place buy stops at 17.50, 18.00, 18,50, 19,00..... so you will size in as the stock turns, if it doesnt turn you wont size in, if it turns only a little you will only add a little. Thats how a trader would do it.