fAT

Citigroup Bottoming - Plus Some Free Advice for Meredith Whitney

you're too young to really comprehend what's going on. Citibank merged with travelers ten years ago or so. As such, they took on a whole lot of insurance liability.
Then, they started making all sorts of bad loans, subprime, etc...and overxtending credit to non credit-worthy entities and packaging them into CDO, collateralized debt OBLIGATIONS.

So, you might think that all NAMES means something, like Coca Cola or McDonalds, just think what's hapenned to fORD and WEndy's and some airlines and on and on and on. companies do do bad things to themselvs and do declare bankruptcy. When citi reaches 16 they're that much closer to Bankruptcy.
Good riddance

Options Trader: Tuesday Outlook

ya but remember the Fed cut isn't until 18th march - a big lag from Jan 31, so unless they call an 'emergency' cut support levels mean less and less.
A rally could be in the works for tomorrow or thursday, i guess, but given all the news and and the new mortgage issues and continuing writedowns, and, now, overseas markets selloffs (DAX, for ex) it's gonna be hard to sustain.