If you are a cynic like I am, and view Wall Street as a place where insider information rules and the SEC is busy viewing porn on their computers while ignoring Bernie Madoff tipoffs for a decade, the "action" today in Citigroup (C) says Friday's earning report should be quite good
I'm not normally one to buy ahead of earnings (usually I "de-risk" ahead of them in fact) but since the past few months have been so good, our NAV is flying, and I have a big cash load I am going to take a flier with this stock with a modest position as Citi breaks over the 200 day moving average for the first time since April. I also like the long base (over 2 months) - usually stocks that break out of long bases can make big moves (either up or down). The obvious caveat is that every stock is essentially a tracking stock for the S&P 500 in some form, so if the general market is rejected at 1100 then Citigroup will fall with it. I should place that disclaimer on each trade go forward since individual metrics mean little in a world dominated by ETFs.
We'll start with 1.6% allocation, on top of my (and your) personal investment as a U.S. taxpayer.
Long Citigroup in fund; no personal position
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