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Answers I Really Wanna Know: Is Citi Setting Up For Bears?


Is a Citi rally to current resistence too easy for bears in front of more possible writedowns?

  • If the average mind thinks 60,000 thoughts a day, of which 40,000 are recurring-and you factor in how much time you spend planning and thinking about what you have to do-how many remaining thoughts are mindful and present?

  • Was yesterday's flat breadth (in the face of early supply) a surefire sign that Boo would have to exhibit some patience?

  • Particularly on the heels of a presidential press conference?

  • Y'all saw the underlying bid in pharma and consumer non-durables yesterday as folks postured for the slowing economy?

  • Did you note that the volume was the heaviest non-expiration volume since November 28th?

  • Is a rally back to Citigroup $30 (past support and current resistance) too easy of a set-up for Boo?

  • In front of, what some say what will be, an additional $16 billion write-down?

  • Given the oh-so-close conflict with Iran in the Straight of Hormuz yesterday, what does it say about global slowdown concerns that crude finished the session 3% lower?

  • Doesn't that support our long-held belief that a precipitous drop in oil is more problematic for equities than a grind higher (through the lens of asset class deflation vs. dollar devaluation)?

  • Does anyone else thing of flat bread every time I write about flat breadth?

  • Speaking of which, should I have been embarrassed when Wolfgang Puck walked up to me in Maui to check on my food and, after he stood there for a few minutes staring at me, I turned to him and said "And you are...?"

  • Did you see that Citic Securities popped 6% in Shanghai overnight on the heels of better earnings driven by higher trading commissions?

  • How about Asutek, the Taiwanese PC maker, which said that it's getting increasingly freaked on the U.S economic outlook, saying "we feel more and more concerned about (the sub-prime impact on) consumer/enterprise."

  • When is the last time you read an Edgar Allan Poe poem?

  • Do you see the importance of S&P 1405 on a closing basis (as the only technical ripcord before 1380)?

  • Given the inflation in things we need and deflation in things we want, will the DBA (agricultural ETF) be the last bastion of strength and the final sector to falter?

  • If Amazon (AMZN) can't lift in the pre-market (in the face of higher futures), doesn't that imply that there is supply in the wings?

  • Along those lines, do you see that Google (GOOG), Research in Motion (RIMM), Apple (AAPL) and Baidu (BIDU) are also up a paltry amount?

  • Anyone wanna bet a buck that most-if not all-of these names dip their schtick in Red Dye this morning?

  • In the "surprising stat of the day" department, did you see that the average hedge fund gained 10% last year? (Chicago-based Hedge Fund Research Inc.)

  • Although 7 or the 10 largest firms fell short of that mark?

  • How long before Hedge Funds start buying into beaten down brokers, such as Jefferies (JEF) & Bear Stearns (BSC)?

  • Remember the false breakout and lower highs in the S&P?

  • If I keep talking about The Inn at Mama's Fish House as the best kept secret on Maui, how long will it stay the best kept secret?

  • With U.S. equity funds losing an eye-popping $9.4 billion in the first three trading days of 2008, at what point do redemptions become a legitimate concern?

  • While last week's AAII Sentiment Survey registered it's lowest reading in a year and a half (31.76% bulls)-and 'below 40%' is considered a buy signal-what does it say that this "signal" as been in buy territory seven of the last nine weeks?


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No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

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