forest, respectfully disagree with you about the volume increasing on down swings... Look at Nov 27... the volume bar is RED but it doesn't mean it was down volume, especially if I look at the resulting candle... still on volume, look at how the volume bars have been diminishing on each low (yes, they're still higher than the up bars) but once again, we don't know if it was buyers or sellers... it would require a fine intraday analysis of volume... see attached chart... (I wish dbphoenix was still here at ET to beat me up on this one) Thanks for sharing your comments -- I'm not trying to prove right or wrong on this trade, just want my quick bounce and stops are in place... if it doesn't work I'll just move to another trade... <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1724514"></img>
Just imagine how many short sellers Citi would kill with a reaction like the on on TD Bank (Canadian Bank)... <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1724517"></img> all it takes is a headline such as "Emirade Arab x sheik invests xB in Citi" ...
a buy at 15.00 maybe. the arabs wish they would not have bought now. bgp short: I B M wed. and C. M. I
In short run the "C" could be interesting opportunity, the stock is also highly oversold. I have also bought C. I think that in short run the first important resistance level is near: 35.25.
GS on a "research note to clients" predicts C will have no choice but to cut dividend by 40%. Make way for some big boys to get in? http://www.bloomberg.com/apps/news?pid=20601087&sid=afG5aK9wpHRQ&refer=home