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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 1967 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 (253)


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...

.."After years of patient study I have proven to my entire satisfaction as well as demonstrated to others that vibration explains every possible phase and condition of the market."..

William D Gann


.."Money couldn't buy friends, but you got a better class of enemy"..

Spike Milligan


Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.

Warren Buffett


..“One must search through a maze of complex and contradictory details to get to the significant facts … Then he must be able to operate coldly, clearly, and skilfully on the basis of those facts.” The challenge for the successful speculator is “how to disentangle the cold hard facts from the rather warm feelings of the people dealing with the facts.” Moreover, “if you get all the facts, your judgment can be right; if you don’t get all the facts, it can’t be right”...

Bernard Baruch


Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.

Nobel Laureate for Economics Paul Samuelson




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