Feedback on Citigroup “firing”:
“Hi Michael, I think it might be important to make the distinction that Citigroup never claims that technical analysis doesn’t work (even though it is likely that the type of predictive analysis they encourage from their hired analysts does not work). The real story here for trend followers is that Citigroup has decided that “it’s public” is not *buying* the technical analysis that Citi is selling. The move to allocate their corporate resources to funnymental analysis indicates that that is what the public wants. What a tremendous relief to trend followers! More evidence that regardless of facts, people like to spend their money on things that, “make good fundamental sense.” You know, like buying stocks that are, “undervalued,” and hanging onto losing trades when there is, “no fundamental reason,” for the decline. Sounds like Citi is preparing to provide some more profits for trend followers. In the words of the President…bring ‘em on!”
Jake Carriker
