Nov 062008
 

I hope you took profits on Citi above $14.50, locking in a 25% gain. I suspect that the current decline will be the final push, the catharsis! (Here is your chance to click on this word and check its meaning!). Unlike the previous trade, we should aim to hold the stock for longer. In time, we will see the price double. Don’t be alarmed if it falls more than my suggested target. (Remember, I originally said we could see it down to $10.40. Refer this post ).  We are turning  medium-term investors in Citi now! Good luck!

  No Responses to “Get ready to buy Citi”

  1. I’ve been short since 11/5. You’ll notice that the most recent occasion Citi rallied off the lower trend line Volume was very low compared to the previous occasions. And during the rally volume declines successively as hit slowly goes higher, and when volume finally comes in it falls hard. And now that its hitting new lows there’s still no volume,no buying power to be seen. There just seems to be no demand at all for Citi at these prices. Good trading.

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