If there's one stock that can be credited (or blamed) for kicking off the mega-rally in 2009, it is Citigroup (C). Remember the infamous March 10, 2009 memo from Pandit stating how they were profitable again? In the span of just eight days, pretty much the entire rally that C enjoyed for 2009 transpired.
Since then, it's been nothing but a grind. Indeed, the current price is lower than C was on March 19th! So even though most stocks – and certainly banks – have suckled at the breast of government cash for this year and risen handsomely for it, C seems to be the weakling. If things ever get soft again (and I am starting to get weary of waiting), I'd guess they're pretty much doomed.
