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'Unpatriotic' Citi Turns Bullish Russian Stocks
While The White House's Jay Carney issued his "sell" recommendation week ago now, it appears Citi's FX techicals group have decided to do the unpatriotic thing and look for a positive "rusk"-on environment as Russia's MICEX stock market index begins to test pivotal resistance...
"costs"
Via Citi FX Technicals,
Russia’s MICEX Index is beginning to test pivotal resistance around 1425-1431 (converging 200 day moving average, horizontal resistance and the 76.4% retracement of the February-March collapse on the log chart). In particular, the 200 day moving average has served remarkably well as support/resistance with the two breaks on a closing basis leading to accelerated moves in the prior trend (see circles).
A break through there on a closing basis, if seen, opens the way initially towards the 1511-1518 area (highs of the range from November – February) and then towards 1538 (October high).
Not shown but worth noting: RUB appears to have further room to appreciate with supports on USDRUB at 33.90 and EURRUB at 46.22 (both supports are the 200 day moving average). At the same time Russian yields appear to be topping out (with both 2s and 10s potentially setting up for double tops with breaks below 7.7% and 8.75%, respectively). This all further supports Russian assets and suggests we will see the break of resistance on the MICEX Index.
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Vampire Squid eat their own.
Thanks C! You still suck ass.
fock you citi! you domestic terrorist you. ..
what's next recommending PM ???
Micex 5X P/E
This should make the political landscape a bit more entertaining...
3:30 may have come at 3 pm today, but there be another 3:30 pm at 3:30
considering the russian equities i follow have rallied about 20 to 30% off the bottom it's about right that citi would say this now.
Middle School Cancels Honors Night Because It’s Too “Exclusive”… | Weasel Zippers
/FACE PALM /
COMMON CORE!
Guess there wasn't any transgendered honors students?
UPDATE: Cole Honors Night Back on the Table after "Feedback" - Schools - East Greenwich, RI Patch
Glad to see CNBS and the rest of the MS Financial Media consider a "sharp move lower" is down 89 bps. The horror! This is our reality these days.. BTFD because nobody can tolerate any sized loss for very long.
and it used to be that a dip-to-be-bought might be a down day or 2...now 5 minutes down is considered a dip to be furiously bought.
Upon K-Hen's retirement, the NY Fed will errect a bronze bust of him that will be encased in glass down in the lobby. The nameplate will read: VIX Crusher.. Long May He Live.
technical analysis...fucking useless pseudostatistical blather.
Presser from Jay Carney any second now...
Carney for President. Citi for Treasurer. K-Hen for Fed Chair. Lets cut out the middleman.
hehehe I bought RSX dip. Carney's da' man
RSXJ is actually more diversified than RSX is, surprisingly. Probably more upside as well. The companies in the RSXJ aren't really all that small either, 1-3 bil or so, and that's after all those big drops over the last few years (and that nice big reverse split).
Citi was unpatriotic before this.
I hope there is a Hell so that when Rob Rubin and Sandy Weill have their luxury suites ready, the demons will be ready to run a train on their asses for ETERNITY
look at the fucking Dow...
once again in the last hour someone decides to step in and bid it up off the lows....
was down almost 160 points at 2pm...
http://www.marketwatch.com/investing/index/DJIA
and here's ur manipulated Silver chart of the day...
featuring of course the takedowns at the same hours day after day, and the obligatory sideways trading for the rest of the session....
http://www.silverseek.com/
Terrorists! Drone 'em.
Well color me surprised. Maybe someone at Citi FX realized that a fossil fuel giant, with no need for foreign agriculture (unlike many OPEC states) and low gross debt levels which was under the process of floating its exchange rate meant that their currency was set for a massive appreciation in the future. A diversified portfolio on the MICEX would be nice right now. Too bad you have to have access to an offshore brokerage and will probably be branded an unscrupulous non-patriot if you invest there.
The Ruble currency still might collapse. Depends on how much resolve there is to sabotage relationships for several decades through further sanctions.
You don't need Putin to steal your money. There are plenty of homegrown thieves right here at home.