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David Kern
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David Kern is a self directed investor with the goal of capital growth. He posts all his trades and results at: www.abjectavarice.com. A lifelong entrepreneur, David was hailed by Lawnmowing International in 1988 as "a rising celebrity within the inner circle of lawn maintenance... More
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Abject Avarice - Thoughts on trading amidst fear and greed
  • Citigroup is looking poised for a breakout 3 comments
    Dec 27, 2010 12:54 AM | about stocks: C
    I don’t own any Citigroup yet in my portfolio, but I think I’m about to. The short term chart looks really great on the daily candlesticks, but I see even more to like on the point and figure chart. Further, the financial sector is solidly “on offense” with a rising bullish percentage.


    The attached chart shows my highlights. This would currently be more of a value play rather than pure technical, as the breakout alluded to hasn’t yet occurred. It’s important to be very careful anticipating what is not yet reality: YES, it’s likely that momentum from recent action in a market currently ruled by demand will cause this breakout. But until then, it’s still stuck against resistance at $5.


    On a more fundamental perspective, C is a S&P Four Star stock, and has consistently reported profitability for the last three consecutive quarters. This is a nice break from the woes of 2008/2009.


    I find this stock compelling on all fronts, and I plan to add to my portfolio this week!
    Themes: technical analysis, stock pick, point and figure Stocks: C
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  •  
    Better hurry.... anytime now, once C gets going, it's gonna zip right by BAC.....
    27 Dec 2010, 08:41 PM Reply Like
  •  
    Yup - bought this morning, position tracker here: abjectavarice.com/port...
    28 Dec 2010, 11:07 AM Reply Like
  •  
    Happy New Year David........ away she's gonna go !!!
    6 Jan 2011, 11:30 AM Reply Like
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