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Citigroup

 
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dtdtrader



Joined: 15 Sep 2004
Posts: 24

PostPosted: Tue Oct 26, 2004 11:06 pm    Post subject: Citigroup Reply with quote

Would love to get some thoughts regarding Citigroup. The stock had a nice gap up, resulting in what I believe to be a morning star signal. Volume was well above average. Was thinking of buying this tomorrow if the stock gapped up on the open or, if it opened lower, buying once the price moved up above today's close.

Also like the charts for AXP with a bullish harami off the 50 day mva and GE with a kicker signal. Regarding GE, is that a legitimate kicker signal since there's no gap? Thanks for any insights you could provide. I'm reading your book and it has proven VERY helpful.
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Wed Oct 27, 2004 9:50 am    Post subject: C Reply with quote

C did a nice gap up yesterday after a doji with stochastics in the oversold condition. This becomes a good probability long trade. Look for a test all the 50 day moving average at around $45.20.

AXP bounced off the 50 day moving average with stochastics curling up, however there is no true candlestick by signal here. There is a good possibility that this may be trading in a downtrend channel but would not be afraid to hold this for a long-term position.

GE did a kicker type signal yesterday right at the 50 day moving average.
This is not an exciting trade it would definitely be for the long-term hold.
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dtdtrader



Joined: 15 Sep 2004
Posts: 24

PostPosted: Wed Oct 27, 2004 3:20 pm    Post subject: Citigroup Reply with quote

Thanks for replying Candlestick1. Your thoughts on AXP and GE were interesting and reinforce what I'm learning through your great educational tools. I bought a call on Citigroup today. I'm hoping it will hit the 50 day MVA and I'll be out. If for some reason it turns back down, would a reasonable stop loss point be the close of yesterday's candle?
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Wed Oct 27, 2004 6:45 pm    Post subject: C Reply with quote

I would use a close below the halfway point of the previous white candle. As long as it's trades above and closes above the halfway point, that is an indication that the buyers are still in control
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