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 1928 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
Barry Ritholtz goes long Citigroup - Update (227)
This 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).
Click for popup. Clear your browser cache if image is not showing.
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
..“What beat me was not having the brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favored my play.”..
.."The key to making money in stocks is not to get scared out of them"
.."If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks"..
John (Jack) Bogle
.."It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong"..
..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..
We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund