Citigroup C Stock 3/13/09 March 13, 2009

Citigroup ( C ) stock continues to fly today on more positive comments out of board member Richard Parsons.

Citigroup News - 3/13/09

Chairman Richard Parsons said Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands. Asked in an interview with Reuters whether Citigroup needed additional government capital injections, Parsons said: "No, I think actually, particularly with the latest conversion... Citi is actually one of the better capitalized banks in the world.''

In other news, Citigroup is expected to name 4 new board members as early as next week.
Citigroup is preparing to nominate some four new members to its board, including former U.S. Bancorp chief executive Jerry Grundhofer, as soon as next week, according to the Wall Street Journal.

Citigroup ( C ) stock is trading up in pre market by 7.78% to 1.80 per share.

Citigroup will report earnings April 17, 2009

Technical Analysis: It is important to note that Citi is back above its 10 day moving average. Next major resistance is $2.00, and then about $2.55. Keep an eye on the 10 day moving average.

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free