C short term target: $5.00

Our $5 target was reached on Aug 27, 2009 and Aug 28, 2009. Should we have a celebrate party at Boston?

Citigroup reported second-quarter revenue of $29.97 billion and a profit of 49 cents per share, while analysts had been expecting the bank to post a quarterly loss of $0.37 (by average).

Citigroup also added $3.9 billion to reserves bringing its total loan loss reserves up to $36 billion.

New insiders buy transactions:
6-Aug-09 PARSONS RICHARD D Director Purchased 15,818 shares
5-Aug-09 MCQUADE EUGENE M Officer Purchased 1,000,000 shares
4-Aug-09 MEDINA-MORA MANUEL Officer Purchased 1,000,000 shares

C currently formed a perfect Reverse Head and Shoulder chart pattern.

Reference Articles:
B. of A.-Merrill upgrades Citigroup to buy
Tarnished Citigroup Looks Like It Could Shine Again
According to Barron, Citi shares may rebound, could double by 2012

It proved that Citigroup is on the right road of success with its strategic turnaround plan.
Citigroup is in the business of helping corporate clients and consumers with their local and global needs. Its large footprint in the emerging markets gives Citigroup a unique ability to offer clients access, exposure, and insight into the highest growth areas of the world.
And Citigroup has 99% of the global Fortune 500 companies and 85% of the top 3,000 companies in the world as its clients. Its region consumer banking businesses have 50 million accounts with 4,100 branches across 39 countries. Citi branded cards businesses have over 57 million accounts in 35 countries.
We are looking forward to seeing that Citigroup to demonstrate the enormous strength of its businesses within the next 3 years. Our long term target for Citigroup is $50 per share within the next 3 years.
Reference article:
Citigroup Inc. Q2 Earnings Call Transcript