I know this was so last week but CitiGroup is buying Wachovia’s banking business. Whether or not its a smart move remains to be seen but things might be turning around for this bad boy. Any glimmer of hope is welcome news to long term shareholders, like myself. What’ll make me feel really good is if CitiGroup (C) can get back above the 50 WMA. At least my $20 average cost positions would offset my $40 average cost positions. :)
Update: I must be cursed. Right after I posted this, news comes out that Wells Fargo wants to buy Wachovia in its entirety. Ugh!