Twitter Ticker ($C)

• Charles Amadeus
• September 16th, 2009

Citigroup chatter is brewing on StockTwits as the bank fell 8% for selling $5 billion in government backed bonds while looking to extract itself from a $72 billion FDIC debt guarantee. The Treasury’s 34% stake in $C still looms, but that hasn’t been hurting the stock price.

$C is trading in a primary uptrend above a rising upper Bollinger, so odds favor buying the dip once there is evidence of a reversal. Look for a move above 4.85 to confirm a secondary uptrend which could lead to a breakout at 5.53.

Strong broad market forces continue to push the bid higher in many sectors, but $C could easily move to 3.06 before changing course. Be sure to manage a position size proportionate to your time horizon and the vehicle’s volatility in order to maximize expectancy.