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No. of Recommendations: 1
what do you guys think..is it time to open the first position or wait for there Q4 earnings report...

I wouldn't be in any kind of a hurry on this one:

2ND UPDATE: Citigroup Restates Quarterly Earnings Down By 3 Cents A Share
NEW YORK (Dow Jones) -- Shares of Citigroup Inc. fell again Monday, shedding nearly 5% after the company ousted chairman and CEO Chuck Prince over the weekend, warned it would take more than $8 billion in new mortgage debt-related write-downs and said its third-quarter profit would be 3 cents lower than previously stated.
[more at:]
http://money.cnn.com/news/newsfeeds/articles/djf500/200711051638DOWJONESDJONLINE000584_FORTUNE5.htm
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Citigroup Shuffle Raises Breakup Talk
NEW YORK (AP) — Charles Prince is walking out Citigroup's doors with potentially millions in his pocket, leaving behind a bank that many believe needs serious therapy.
Investors are not only worried about the $8 billion to $11 billion the bank expects to slash on its investments. They're also concerned that Prince's successor as CEO may not administer the bitter medicine many say the bank needs to revive, including lancing some of its businesses.

Citigroup Inc. shares plunged $1.83, or 4.9 percent, to $35.90 Monday.

Many market watchers have said Citigroup's stock would soar once Prince was out. But shareholders' displeasure was not with Prince the person, but rather his unproven strategy and hesitancy to break up the nation's biggest financial services company, built by his predecessor Sanford I. Weill.

Chairman Robert E. Rubin and acting CEO Sir Win Bischoff have indicated that they plan to continue with Prince's strategy, keeping Citigroup intact and focusing particularly on international operations.

[more at:]
http://ap.google.com/article/ALeqM5i1ZrQfzb7hmZ7eYis62LLRslMjHQD8SNONJ01
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