I don’t think so. If CITI was profitable, it means they can, in time, buy out the government stake, and maintain the independence (relative) of the banking structure and the threat of nationalization (hopefully). This has artificially depressed the Dow, basically because Obama’s big mouth keeps moving. Granted, if he keeps talking we’ll see another negative 200 day, but CITI’s profit may have shaken some nervousness out.
I've been actively trying to avoid total calamity in my holdings since last summer...I've seen these bumps...in this economy, they don't last.
I'm staying on the short side for now.