On weakness down away from the declining 50-day moving average (dark blue line), let’s stalk Citi for a short tomorrow on an overall still-damaged chart.
And on the long side, keep an eye on JO UNG for further strength.
Drop me your top tickers overnight.
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I see the banks in a completely different light I suppose. I’m long BAC and GS. To me it looks like Citi could run to about $50 from here. These stocks had multiple chances, much like the RUT, to flush and yet they held up. I’m pretty convinced we’ve bottomed and this is just the beginning of a rip roaring counter rally. I think the RUT is good for 1160.
Not meaning to imply that the RUT and large banks have anything to do with each other. Just pointing out the similarities in how they’ve traded of late.
@QCI I tend to agree with you regarding CITI .it appears to have bounced off of support, once again. if it gets to $45 then I’d agree with CnW that it is broken.