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Non-Tech : C (Citigroup) -- Ignore unavailable to you. Want to Upgrade?


To: Doug Bean who wrote (67)3/11/1999 9:16:00 PM
From: JEB  Read Replies (1) | Respond to of 259
 
The C 5 day chart:

bigcharts.com

Shows the indicators were bearish and turned at the end of the day into a bullish buy signal. The BKX (Banking futures) did the same.

It seems that C was actually leading the SPOOs today and held strong or even ticked up when the SPOOs were ticking down (Counter-trend).

I use the S&P futures (SPOOs) as a market strength indicator (General) for all stocks.

Because of the strength of the market (SPOOs were ticking up in after hours) and the buy signal at the end of the day, C should rally into tomorrow before settling. It may look a lot like today.

The whole banking sector is strong right now.

-JMHO-

Good trading,
JEB



To: Doug Bean who wrote (67)3/12/1999 4:01:00 AM
From: EepOpp  Read Replies (1) | Respond to of 259
 
hi doug,

i hope you don't mind me butting in but i had a thought. what about trying OPM (other people's money)? you could sell all of your June 65 calls, use some of the profits to buy the June 70 calls for something between 3 and 3 3/8 each. that way, even if C collapses, you still make a profit. and at the same time, you can continue to participate on any upside that the stock might have.

or sell half your position and then none of your original principal is at risk.

good luck in whatever you do,

Will

ps. i'm still trying to figure options out so don't let me persuade you to do anything.