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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?


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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