Citigroup closed today at 1.67. Just crazy considering it was at a buck to start the week. Big pullback this morning (Thursday) the took it from 1.54 (Wednesday's close) to 1.48 before another run-up.
I like watching C because it's the ultimate statement about where we stand as a country, hoisting up a downtrodden villain, a battered boxer who once used steroids regularly. Citigroup is the Alex Rodriguez of the free market, except that Rodriguez isn't getting billions in bailout cash. (Yes, I have a small position now.)
Apple was available at 90 on Wednesday and closed above 96 today. Is the super-small new iPod Shuffle that big a deal? I still don't own an iPhone, probably never will given my habit of dropping my (freebie) cellphone. I don't even have an iPod. I'm still pounding away on an outdated PowerBook. Yet, of all the tech stocks, AAPL is the one I am glued to. No other tech has the Cool Factor of Apple, and when times get better, Cool is what sells.
So, which is a "safer" bet? A financial like C or Wells Fargo, or Apple? Probably Apple, for now.
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