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Created on: 3/31/2011 5:20:58 PM Last Update: 3/31/2011 8:30:54 PM Posted by: RTT
WARNING: This entry is 5426 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
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Barry Ritholtz goes long Citigroup
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 Barry Ritholtz founder of 'The Big Picture Blog' has added Citigroup(C) to his portfolio today. So we took a look.
Source: Edging a Touch Longer
Looks like a swing trade !
Cycles: Ok, 70 period swing nicely, we would like to see red line swing to cross over zero.
Volume: No commitment from the big boys yet. We need them for another swing up !
Price: We dont want to 'anticipate' the move, so a close above $4.60 will attract us !
Sector: Financials are NOT the flavor of the month: Energy, Technology are !
Gann: Angles look very good. Blue 2x1 and support above $4.30 must hold.
If the major index dont break down, Citigroup looks an ideal swing play. Waiting for bullish volume to show up.
Analysis Chart
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Gann Chart
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Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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Investing Quote...
..."I was brutal in self-analysis. He told his sons his conclusions: “Successful trading is always an emotional battle for the speculator, not an intelligent battle.”…He knew that his biggest enemy was his own emotions."...
Jesse Livermore
.."It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt."..
Mark Twain
...“To me, the 'tape' is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”...
Martin Zweig
.."If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks"..
John (Jack) Bogle
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
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