Bear credit spreadBeing cheap doesn't make it good
First call strike (shorting) @ 49, September 16 expiration.
TRVC trade ideas
Citi : Short -- 2008 is coming back Short Entry between -- 50 - 55
Stop Loss -- 60
Target -- Last Low - 10 - 14
In 2008 Fed stood up Who's gonna be this time !!
Resistance passedThis is the third attempt to surpasse the major resistance at 45. Perhaps we will succed now that the overall bias of the stocks' market is bullish.
C - Trade updateWe entered a long position on a break and retest of the long term descending trend line with an initial target of 50.
Still in this position with the same target.
Citigroup - weekly repair of early 2016 drop.Just a specualtive idea : but looking at Bank stocks like Citigroup - it looks like many institutional investors were surprised by the sudden drop very early this year. Thus they might take this window of opportunity to drive price back up to at least the previous breakdown level ( just to get breakeven ). Therefore, a rise in Citigroup to approx. 50.00 USD area wouldn`t surprise me. Bullish with tight stops.
Citigroup fallingCitigroup has fallen out of a rising wedge and broken down past the short term support of 43. Next support is at 39.80. Most banking industry stocks did poorly today. This may be a beginning of a bear trend or a brief correction before further rising. If price falls bellow 39.80 with heavy volume bear trend is active.
Citigroup @ Resistance, Pre-EarningsCitigroup is at a Multiple Timeframe Resistance 3 weeks prior to earnings. Volatility is low with the VIX down and earnings far enough away to buy Single October 40 Puts. Looking to get ITM by September.
C getting ready gain!!!Mac d about to cross over and trendline might break . Resistance is holding so far. Let's see next week. I'm looking for shorts...
Range bound in rising channel Citigroup price has been in a rising channel since Febuary. Currently pushing against the 200 EMA. I'm bullish until this thing drops down out of the channel
(D) If bullish momo continues and 45 remains near term supportthen, long entries near the bottom of the mild bullish channel could be decent as it glides towards 50.
RSI and MACD have room above before showing signs of exhaustion. Of course it may retest 45 or P pivot support before going higher.
Stalk your entry and follow your rules.
