I slept through the trading day: November 28th, 2008
November 28, 2008 – 3:07 pmJust like many others, I had absolutely no idea the NYSE was closing early today and subsequently, I slept right though it.
Today we saw a break of a fibonacci retracement level as well as the descending continuation wedge. With this in mind, we could see a multi-week bullish run up to the next fibonacci level, but stochastics are in overbought territory and the %K line in starting to roll over. Perhaps we saw an overshoot?
On a slight side note, have you guys been paying attention to the run that Citi Group has had the past 5 working days or so? Good lord what a run as it went up another 17% today. I urge holders to sell off their Citi shares. The run has been powerful, but by no means near what it was worth a little over a year ago. What a chart….
2 Responses to “I slept through the trading day: November 28th, 2008”
ya its a shame i called the citi from last thursday but i was stunned to see it go up that much i may play GM or F going to next week meeting for a short bounce what do u think?
By john on Nov 28, 2008
You could but I would prefer staying on the bond side of the auto industry. A 8-9% bond is too tempting to pass up.
By jmoon on Nov 28, 2008