Joe Terranova Likes JPM, Thinks Citi (C) Is A Long Term Play
CNBC Fast Money's traders spoke in the segment of the show called Fast Money Half Time about Citigroup's (NYSE: C) rally. Citigroup (C) traded for a short period above $4 today.
Joe Terranova thinks that fundamentals are back to pure vanilla banking. And if you look at pure vanilla banking, JPMorgan (NYSE: JPM) is currently much better option.
He added that Citigroup (C) is a long term play, and the price is going up because big hedge funds are taking long term positions in Citi (C). If you want to own Citi (C), you have to understand that you are owning this stock for a 2012 story.
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