I would Expect C to be a long core position. After reading about my colleagues fundamental analysis of C. The long term technical picture is confirmed. C has great potential for long term growth from a valuations and technical standpoint. Today's move just reflect, as I wrote yesterday, a correction from over-exuberance. This may give an opportunity to re-up if 50 RSI support holds.
Be prepared to add in if you see those higher lows. I know I will.
==========================
SGP:
I updated my risk management on SGP considering my sizable position. I set to take profits roughly around 1 ATR below current prices. Due to the high probability of noise my order will most likely get filled. Which is fine, since I will re-up (re-pyramid) on the pullback as SGP is due for a slight correction.
I expect SGP to trade overbought into the next week due to the volume confirmation. It seems that SGP has a bit more room to the upside after its due correction before hitting significant technical resistance. (31? 32? ... anyone?)
Again watch for those higher lows!
======================
-Alex
http://groupanlz.blogspot.com/2009/10/sgp-technical-play-100209.html
ReplyDeletemy previous post on SGP
Previous Post on SGP <--- click here
ReplyDeleteLove your thinking on Citi. I hope support does not hold at 50. I know you are locked in a position, but I would definitely like to see C fall closer to $4.10-4.15 before buying in.
ReplyDeleteI definitely see an upside of 31-32 on SGP. You are going to have to school me on pyramiding analysis.