Replies to post #11810 on Citigroup Inc (C)

[kid biscuit]

Those short term things are wild. Lots of volume makes an easy exit. Great for a quick flip at low price entry. You should be able to cash in on oil weakness, which should be an easy setup during the next 3 days since we're bumping the top of the range "unless Uncle Sam squeezes the shorts (my opinion only)", or just some plain ol' bad news perking up the pipeline will help big time. They were bouncing like a yoyo several times as the downtrend started. I liked the the ones with a lot of time, as close to the money as comfortable. I couldn't believe they sucked people in at 60. May well have been a giant short position being taken. Don't drag your feet if you get a nice spot of green during the next 48.

[kid biscuit]

After looking at a 6.5% plunge in Shangai,( one of the worst this year) while we are sleeping, everything should be golden on that trade hopefully. A bit of diversion as of late leaves room for error. But should be good, but will see. Most everything has aligned right for it.

[kid biscuit]

Win some, lose some. The divergence between China and U.S. markets widened with huge help from OPEC and other producers last week. Not many saw it coming till the comments from Russia. That has the potential to pull C away from the default cliff. It moved the other way very quickly. My favorite offshore drilling long leaps went up 1500% in one week. Absolutely breathtaking move. At 60 the downtick looked very good on C. Now I expect the buy on dip mentality to be back for awhile, although the rally will have to be tempered by profit taking on reality...the world still has to deal with an 85 year high on surplus crude oil stocks. Have a good day. KB