Thursday, June 28, 2012

Close positions in banks - short Barclays

Close positions in banks - short Barclays

Barclays PLC.

Previously long in Barclays PLC we closed it once it reversed from 200.00 [see chart below]. We are now short from 189.60, since it broke the short trend and Head-and-Shoulder can be visible from most recent price formation.

Citigroup Inc.

Similarly to Barclays, we closed Citi just below 28.00 once it broke that level, but we didn’t short this one as it received support @ 26.50. Definitely stock to watch (again), since it is already -1.5% (40cents) below its previous close in the pre-open trade.

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