In a very tough week for stocks, Citigroup (C) was able to buck the trend and rise 0.07 cents for the week, from 3.25 to 3.32. Citi traded as low as 3.15 mid-week and I think that was the bottom for this stock.
January was the worst month for the market since last February. Many market watchers believe January sets the tone for stocks for the rest of the year, and historical data backs that up. Since 1950, the S&P 500 Index full-year direction has matched its January performance more than 90 percent of the time, according to the Stock Trader's Almanac.
I closed half of my shorts on Friday`s closing bell. I am still bearish but a reaction will occur in the in the next few trading sessions.
I am going to cook Paella today. I have never tried it before but I have invited some friends for dinner and I chose this spanish specialty to serve today. I am going to stay awake to watch the Australian Open final between Roger Federer and Andy Murray. Go Roger!
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