Barry Ritholtz Goes Long Citigroup - Update

By: readtheticker | Wed, Apr 13, 2011
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This is an update to our post here. Lets have another look.

  1. For the Affirmative:
  2. Red 45 degree line break is imminent
  3. TrendStatus positive, above ZERO. Confirmed
  4. Hurst Cycle break of zero, imminent.
  5. Financial sector may get a boost as other sectors are too expensive.
  6. JPM earnings this Friday could boost the Financial sector, if this happens Citigroup(C) will skyrocket in our view.

For the Negative:

  1. Volume not exciting (not shown, could not fit it in screen capture tool)
  2. Financial sector is a laggard.
  3. The Gann Angle trend is only 2 units of time for 1 unit of price (2x1). It would be smarter to find trades at least 1x1 time to price rewarding.
  4. We (RTT) dont know the fundamentals behind Citigroup trade. Assume Barry has it sorted!
  5. Market momentum we be timid in the US Summer (in our view).

Citigroup Chart

 


 

readtheticker

Author: readtheticker

readtheticker
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We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online stock and index charts with commentary. We are not brokers, bankers, financial planners, hedge fund traders or investment advisors, we are private investors.

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