Stay Away Play – CITI

Richard Suttmeier’s points out “Did you know that the big banks still have huge exposures to derivatives?

The Office of the Comptroller of the Currency reports that the credit exposures of our biggest banks ended the first quarter at $1.42 trillion, up 9% year over year. JPMorgan (JPM) leads the list with $462 billion followed by Citigroup (C) with $264 billion, Bank of America (BAC) with $213 billion and Goldman Sachs (GS) with $206 billion.

Strong Downtrend for C

	-10		Last Hour Close Below 5 hour Moving Average
	-15		New 3 Day Low on Tuesday
	-20		Last Price Below 20 Day Moving Average
	-25		New 3 Week Low, Week Ending June 27th
	-30		New 3 Month Low in March
-100		Total Score

Do a quick Free scan of Citi below

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