The market gives some subtle clues to the alert investor of an impending bottom. One such clue is a diagonal triangle at the bottom of a fifth wave. Citi has come a long way from $40 where I had recommended you to sell. Now it is time to make a medium term investment. I would prefer that you read the comments on the attached three charts of Citi carefully. Then decide how much you want to be exposed to the financial sector at this time. Remember, no matter how confident an analyst may be with his recommendation, it is still only a recommendation. The real money is yours! So be careful about what you put into the market on anyone’s ideas. You all know that some of the blue-chip investment banks were calling for oil to go to $200 and the same banks are now looking for it to go to $70 when we are almost there. So analysts do make big blunders. (Fortunately, I called a drop to $85 and then to $50 when it was trading around $145. But that doesn’t make me invincible.) Best of luck! citi-16-oct-2008
