1. citi is not the biggest bank anymore. they are #3 2. lol what do you mean probably? they went down because they were buying garbage that had very little real value. 3. again how can you say the top was clear with TA if it was only hindsight? are you talking about the 52 week high top or the chart breakdown when it broke 45? i agree on the 45 break. 4. you seem new to me so i am trying to be nice but just because that is a commonly used phrase doesn't mean it is the way to trade...especially off a chart. the buy high and sell higher is a much better way to look at things. it's really really really hard to fight trends on mega cap stocks. 5. - 10. if you aren't going to listen to me then listen to CWU since you seemed more receptive to what he said and he was right.
Robbie 380, I will submit that I am not that certain what the outcome will be, the only certainty is a stop zone. I may be wrong & yes you are right I am a piker & probably not quite as wise as you are. It's difficult to call an intermediate bottom when the whole stock market has been declining, btw a sell off in C also coincides with stock market's declines, so maybe it's not that C is trouble, but it MAY be stock market correction across the board, there is no way you or I or anybody else for that matter could be certain of. It could be this, it could be that. I used histogram patterns to nail Gold & Crude with their advances, when majority of professional analysts were posting lower estimates, with Crude it was something like 30+ for lower prices vs 2 for higher prices. Your reply to my point 2, to me, indicates that you assume too much, one thing is assuming & another when you start believing in your assumptions & making them into facts. Who told you that the price went down because they were "buying garbage that had very little value"? Statements like the latter I used to read on Yahoo financial boards. My Grandfather used to say: - "If you don't understand something, then don't talk about it" Re: 1. It's still a huge bank 3. I referred to failure to clear $52 level, failure swing on lower histogram peak. 4. Fighting trends, well I won't be fighting it, it's not as if this was my 5th call to buy C
This is difficult but I am trying....Who told me why their stock has declined? CITIGROUP Have you read anything in the past year about CDOs? Have you read or heard anything the financials have said? Do I need to post the news stories and press releases for you? please please please try to do as much work as you can to educate yourself on what is going on.
Look, I don't want to hear any fundamental based crap in this thread, only technicals, for 3 reasons: 1. My recommendation was based on TA 2. If I don't understand how to interpret FA, then chances are I won't have a clue how to interpret your interpretations. I leave FA to pros, what they decide to do, to either accumulate or distribute, is a form of art (I suppose) to derive from a chart 3. It's my thread No disrespect intended.
There is risk in both trend following & catching falling knives, as long as there is a reason to do so action has to be taken, for me, although this is not a real money exercise (I don't trade stocks), the loss will be treated as real one.