Posted on May 27th, 2008 at 08:48 PM
Is Citibank (C) a buy? NO. It is not. Why? Let's look at some timeframes.
Daily Chart. This pullback has not triggered. Don't even bother waiting for it.
Weekly Chart. Confirmed downtrend. Only managed a 25% retracement. Weak.
Monthly Chart. Confirmed downtrend.
Next Stop for Citibank is $16.
Stay Away.
Posted on May 27th, 2008 at 08:48 PM
DRYS has been one of the strongest stocks since late March when the Bear Stearns takeunder was announced. It currently sits at #13 on the Investor's Business Daily 100. The stock has run from $54 up to a high of $115 in just two months. DRYS has pulled back and is triggering today. The trade offers has about a 4x risk reward.
