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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 1901 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 (204)


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...

.."Successful tape reading is a study of force. It requires the ability to judge which side has the greatest of pulling power and one must have the courage to go with that side"..

Richard D Wyckoff


.."The stock market is filled with individuals who know the price of everything, but the value of nothing"..

Philip Fisher


.."It's easier to fool people, than to convince them they have been fooled"..

Mark Twain


...“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”...

Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).


..."The four most dangerous words in investing are 'This time it's different' "...

John Templeton




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