Citi should have gotten some lift from news that JP Morgan will take Smith Barney off its hands for more than mere peanuts. Instead, the stock has dropped like a brick, shedding nearly 20% of its value yesterday on top of an 8% loss in the previous session. All of the other financial stocks have come down hard as well, but it remains to be seen what has been troubling them. Meanwhile, the 14.79 target given here yesterday for JP Morgan, representing a 40% plunge from current levels, implies that something wicked is brewing.