Citigroup - BUY

[robbie380]

Quote from JSSPMK:

None of you are traders (the ones making remarks after events have taken place & in such a manner), because you do not understand the most simple thing in trading - be ready to lose & know how much you can afford to lose. Judging by childish replies today I know who is who according to replies. In trading losing is a common event. I wonder what would you have said if stock moved in my favour, I know what - nothing. So grow up already. We have liquidity in markets, because people have differences of opinion, if we didn't, then we would have untradable markets, where one day you are a winner & the next you are broke.

The reason I did not trade this is because I don't trade stocks, nothing more, nothing less. I am a countertrend discretionary trader & on this occasion my decision to find an intermediate bottom in light of a pattern that I trade all the time via futures was not wrong in principle, but it simply didn't work out in my favour, none here on ET have crystal balls with a 100% certainty of predictability of events to take place in the near future.

Anyway, I am man enough to admit a loss, even if paper one.

Appologies to anyone that has bought C after this recommendation, but as I said earlier on position sizing/money management would have prevented any substantial loss to capital.

Robbie & Co, I will say this again you need to grow up. There is a saying - What is the difference between a genius & stupid? Stupid has no limits.

well stupid was right over and over and over again mr. i don't want to hear about fundamental bs lol. and i thought there was a more simple axiom in trading....the trend is your friend. to you the trend is not your friend!

 

[1flyfisher]

JSSPMK

So what was your reason for a long position EXACTLY?

Spell it out already. Let's hear it.
We are all waiting.

4-5 sentences , a short paragraph should do it.

 

[JSSPMK]

Quote from bgp:

if citi is a buy , for how long will it be ? a day ? a week? 2-weeks? not for long.


bgp

It's a buy until stop's been elected

 

[kalzayani]

I agree Heading to 31 Maybe

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1972830>

 

[JSSPMK]

Quote from 1flyfisher:

JSSPMK

So what was your reason for a long position EXACTLY?

Spell it out already. Let's hear it.
We are all waiting.

4-5 sentences , a short paragraph should do it.

I trade via charts, I specialise in histogram analyses. Pattern seen on the Daily chart in C is almost identical to the one currently seen in Gold's daily chart, which BTW has been called here well before the move started & now is totally in the black. Difference is that C has been putting in a divergence, when Gold's pattern was putting in early stages of inversed H&S via price action, but histogram pattern is almost the same. If anybody wishes to say - Hey, Gold is in a uptrend, then yes it is, depending on which time frame chart you are looking at.

I will also mention that when price has gone through a period of substantial declines short squeezing/covering occurs at rediculously fast pace. Again I refer to futures, stocks I am not that familiar with.

Today's p/a line chart depicts a very sharp angle off support, if current resistance is taken out, this could well be the time when PPT steps up & upside could be substantial.

BTW not that it might matter to some, but according to current recommendation stop is at $17.26 as stated