Trade Update

I’m still in this trade and will make a decision tomorrow, Thursday October 15, 2008 as to whether or not to continue holding this position or close it. My decision will be based on Citi’s earnings report which I expect to exceed market expectations. If yes, the stock will move up after which I may close out the trade, and perhaps roll it up. If the earnings disappoint, the stock will most likely go down to the low $4 level and I may decide to hold. As of the closing today, 9/14/08, the position has a value of $2.50 which represents a gain of $2.37 per share, or 1,800% in a little less than 3 month. You calculate the p.a. gain J . I will leave it up to you to guess how much I invested in this trade. In hindsight, I should have gone in very big, but didn’t.  L  But good enough. This was just a test of a new strategy that I’m planning to explore further. Stay tuned.