The Chart du Jour

A Top in Citi?

April 5, 2000

By, Barclay T. Leib

Inverted yield-curve and all, we have been somewhat amazed at the previous imperviousness of the financial sector stocks to Wall Street's recent downdrafts. At least until yesterday that is. Despite initial strength, we ended up creating an "outside day down" formation in many bank stocks including that of Citigroup pictured below. Just as the Dow is not going to be a safe haven from chaotic times, bank stocks will not be either. With a complete looking Fibonacci rhythm, we'd be a seller of Citigroup here.


Chart produced using GET End-of-Day

Conversely, there are some financial stocks that we like quite a bit longer term, and along these lines, we have just completed our newest article "E-Commerce: A Paired Trade Approach" that is available for sale below. Highlighted are two potentially big winners as the age of e-commerce increasingly moves to Wall Street, compared and contrasted to two companies we see as losers within the same environment.

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