Citibank

Some of you might think i am obsessed with Citibank and Fannie Mae. YES I am because they wont tell you the truth.
Let me ask one question, why did Citibank just offer out $3 Billion in additional stock after hours, essentially diluting the amount of shares outstanding, why? If they dont need more monies as the talking heads keep on saying why>? Stock is currently down 4% after 4pm, we will see how this will play out in the next few days.

Citibank is a $15 at its best. Don't believe the street.
Financials are no where near a bottom, this is just a bounce in a bear market sector for them.

Oil and Gold

Oil and gold on the retreat as the dollar strengths here. Oil down $3.60, Gold down $20
Hope those of you who trade FOREX shorted the Euros on the weekend blog note..

US Dollar and commodities

As noted over the weekend, I thought traders would buy up the dollar and consequently sell the oil and gold as they are in priced in US dollars.
This is expected but it wont last, will be very interested to see how the market reacts tomorrow after the announcement.

Software down

No trading today my broker is having problems with data and charts.
Talk to you tomorrow