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  • Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) - Whats Happening ?

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    Wednesday June 15, 2011 at 10:20 pm EST
    Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) - Buy or Not?
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    Shares of Citigroup Inc. (NYSE:C) closed Wednesday at $38 at support level of $37.62. Shares of Citigroup Inc. (NYSE:C) have dropped heavily on economy concerns in last 2 weeks. Major resistance levels above $8 are at $38.98, $40.32, $41.28, $42.74, $44.21 and $45.12. If we look back on the 2008-09 recession, those who had a trust on these banks made tonnes of money by buying in at low. Citigroup Inc. (NYSE:C) shares are highly attractive at this price but the fear of double is making the decision real tough.

    Bank of America Corp. (NYSE:BAC) shares closed at $10.5 dropping 2.8% on Wednesday. Political and financial turmoil in Greece added more fears to the world economy. Bank of America Corp. (NYSE:BAC) touched its new 52 wk los of $10.41 Today. Major Resistance levels for Bank of America Corp. (NYSE:BAC) above current price are at $11.26, $11.76, $12.35 and $13.2.

    Bank of America Corp.(NYSE:BAC) and Citigroup Inc. (NYSE:C) both look extremely dangerous currently; Thanks to fresh European crisis. Call options for Bank of America Corp. (NYSE:BAC) and Citigroup Inc. are trading at very cheap price and there are no buyers. The best market suggestion at this time will be to conserve cash with you so that you can buy when the market hits bottom. Owning stocks at this time is highly risky.

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