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Created on: 4/13/2011 5:17:25 AM   Last Update: 4/17/2011 8:58:22 PM Posted by: RTT
WARNING: This entry is 1501 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.

1 POST Barry Ritholtz goes long Citigroup - Update (165)


barry-ritholtz-goes-long-citigroup--updateThis is an update to our post here . Lets have another look.

For the Affirmative:
1) Red 45 degree line break is imminent
2) TrendStatus positive, above ZERO. Confirmed
3) Hurst Cycle break of zero, imminent.
4) Financial sector may get a boost as other sectors are too expensive.
5) 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 will be timid in the US Summer (in our view).

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Citigroup



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Investing Quote...

.."It is not as important to buy as cheap as possible as it is to buy at the right time."..

Jesse Livermore


..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..

Bernard Baruch




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