Recent Event Highlights: The Decline of the P/E Ratio - Wall Street Journal, Occidental Petroleum small but well positioned - Los Angeles Times, European Stocks Advance for Second Day, Led by Telecommunications Shares - Bloomberg, Analyst: Citigroup Is Not "Cooking the Books" - TheStreet.com, Citigroup Inc. Stock Up Slightly As Bernanke Says Fed Could Buy More Securities - Times of the Internet, Hain Celestial (HAIN) Rating Maintained at Citigroup - Comtex Smartrend, and 318 more...
Created by dipity on Nov 20, 2008
Last updated: 10/29/10 at 02:53 PM
In a research note to clients, Citigroup said that it believes the 12% decline in shares of Hewlett-Packard (NYSE:HPQ), compared to a 5% decline in the Nasdaq, is a buying opportunity. Citi said that the upside/downside scenario is compelling that they reiterate their "Buy" rating with a price target of $65. Yesterday, HP reported fiscal Q3 earnings that were inline with the company's August 6th pre-announcement which was made at the tie of CEO Mark Hurd's forced resignation.SmarTrend alerted subscribers to take profits in Hewlett-Packard on August 09, 2010 at $43.14, since then the stock fell 5.5%. We are now watching for any positive developments that could result in a new uptrend signal.
""Citigroup Inc. has cut its price target on shares of Cisco Systems, Inc. (NASDAQ:CSCO) on Thursday morning. The firm cut it's estimate by 2$, now at $29. SmarTrend currently has Cisco Systems in an Uptrend. Since 2008, SmarTrend subscribers trading the stock using our alerts outperformed by 54%. We will monitoring these developments and alert subscribers to any change in trend. Shares of the data networking products supplier closed Wednesday's trading session at $23.73.""
Citigroup, Inc. (NYSE:C) raised its 2010 to 2012 earnings estimate for Cytec Industries Inc. (NYSE:CYT) Thursday from $47 to $58. Citigroup maintains its Hold rating on the specialty chemicals and materials manufacturer, and analyst PJ Juvekar wrote that Citigroup remains "on the sidelines as today's 16.5% rally in the shares has reduced the upside potential." SmarTrend is bullish on shares of Cytec Industries andour subscribers were alerted to buy on July 09, 2010 at $42.30; the stock has risen 14.5% since that alert was issued. Cytec Industries is currently above its 50-day moving average (MA) of $42.54 and above its 200-day of $40.89. In the last five trading sessions, the 50-day MA has fallen 0.27% while the 200-day MA has risen 0.74%. Shares of the company are trading down 2.97% Thursday afternoon at $48.38.
Citigroup (C) is slated to report its Q2 results ahead of the opening bell on Friday, July 16. Analysts polled by Thomson Reuters expect the company to report earnings of $0.05 per share on revenue of $22.1 billion. Citigroup holds to a reversal pattern between the sessions within the pool of quarters we've tracked. The stock has seen narrower movement between the pre-market and following regular session following 13 of its last 22 earnings events. In the near-term, the stock is mixed, with two reversals and two widening moves between the sessions over the last four quarters.
In a note to clients, Citigroup research analyst Robert Morris said that on a road trip with Anadarko Petroleum (NYSE:APC) Chairman Jim Hackett, "Mr. Hackett exuded confidence" with respect to its position that it will not be liable for 25% of the cleanup costs associated with the Gulf of Mexico oil spill at Macondo. Anadarko has a 25% interest in Macondo with BP (NYSE:BP). Hackett cited 11 different decisions made by BP in the 48 hours prior to the disaster which would amount to gross negligence on the part of BP. Given APC shares have fallen close to 50%, the worst case scenario is likely priced in and, as such, Citi keeps Anadarko shares "Buy" rated. SmarTrend is bullish on shares of APC and our subscribers were alerted to Buy on July 08, 2010 at $43.73. The stock has risen 6.7% since the alert was issued.
Citigroup Inc. (NYSE:C) officials announced that the company is placing a hold on some foreclosures on areas affected by the BP Plc (NYSE:BP) oil spill in the Gulf region. The bank is putting a three-month-long suspension of foreclosure sales and notifications for certain areas within 25 miles of the affected coastal region, effective Thursday through September 17th of this year. Evictions will also be placed on possessed properties for qualifying borrowers in the region with CitiMortgage-held first mortgages. Citigroup officials forecast 1000 borrowers to participate during the program's on-set. "There is a lot of anxiety," said Chief executive of CitiMortgage Sanjiv Das, regarding the financial scope of the BP oil spill. "We cannot grasp the impact just yet." A statement by Citi CEO Vikram Pandit read: "We aim to ease the burden on residents of the Gulf states. In the midst of this crisis, we will continue to explore ways to help people avoid foreclosure so they and their families can remain in their homes and have one less thing to worry about." Shares of Citigroup are trading down 0.13% Wednesday afternoon at $3.98.
Citigroup analysts lowered their price target for Best Buy (NYSE:BBY) to $45, down from $48, and lowered their fiscal 2011 and 2012 EPS estimates. The bank now sees fiscal 2011 EPS of $3.52, down from $3.56 per share, in line with consensus estimates, and fiscal 2012 EPS of $3.90, down from $3.98 per share, vs. consensus estimates of $3.88 per share. Analyst Kate McShane said, "While Best Buy continues to pursue gross margin enhancing strategies through improved services and connectivity solutions, we are concerned about mgmt's comments that the consumer began to curtail spending in May given the market pullback and difficult macro economic environment combined with the co. facing a more difficult comp in the back half of the year."
The US Treasury Department's sale of 1.5 billion shares of Citicorp (C) have helped move the Troubled Asset Relief Program, or TARP, to be more than halfway to being made whole, TheStreet.com reported. "TARP repayments to taxpayers have, for the first time, surpassed the total amount of TARP funds outstanding," the Treasury Department said. Treasury noted that the recent sale of Citigroup (C) stock helped push forward taxpayer returns, the report said. The Treasury still owns 6.2 billion shares of Citigroup, which it is in the process of selling off. Citi shares were down 1.15%, or $0.05, to $3.86.
Citigroup analysts upgraded Equinix Inc. (NASDAQ:EQIX) to buy from hold, with a price target of $110. Analyst Michael Rollins said, "We are upgrading Equinix from Hold to Buy based on:1) prospect for improving domestic revenue growth heading into the 2H/10 based on our recent sector checks & bottom-up revenue analysis; 2) we believe the revenue risk from Euro exposure is becoming better understood, while the organic demand environment should meet our expectations; 3) EQIX is making progress on its integration & synergy realization from its SDXC acquisition; & 4) the valuation is discounting future growth prospects for the data center portfolio, in our view." The bank sees fiscal 2010 EPS of $1.21, vs. consensus estimates of $1.54 per share, and fiscal 2011 EPS of $2.62, vs. consensus estimates of $2.87 per share.
5/28/2010- Citigroup analysts are lowering their price target and 2011 and 2012 EPS estimates for Apollo Investment Corp. (NASDAQ:AINV). Analyst Donald Fandetti said, "The market seemed a little over-exuberant during FYQ4 with some PIK, dividend refinance deals actually getting done, reminiscent of the loan terms from 2005-2007. Mgt did not participate and was encouraged that loan terms are returning to earth in the current qtr (FYQ1). Given the difference in portfolio mix, we continue to prefer Buy rated ARCC. Target is now $11. Reiterate Hold." The bank now sees fiscal 2011 EPS of $1.15, down from $1.35 per share, vs. consensus estimates of $1.29 per share, and fiscal 2012 EPS of $1.30, down from $1.42 per share, vs. consensus estimates of $1.35 per share.
5/26/2010- Citigroup (NYSE:C) shares are trading 5.02% higher at $3.97 after analysts at Oppenheimer & Co. upgraded the stock to outperform, up from perform, due to the fact that they believe "the stock is now attractively priced after its recent pullback." The analysts also mentioned that they think Citi's business in Asia and Latin America position it well for "better than average growth in coming years." However, they added that their investment case is not dependent on that happening. The Financial Times also reported that Qatar Investment Authority is interested in buying part of the US Treasury's 27% stake in the bank, which the government has previously said it intends to sell.
5/26/2010- Citigroup analysts are reducing their risk rating for AutoZone (NYSE:AZO) and raising their EPS estimates and price target to reflect higher sales assumptions. The bank's new risk rating is medium based on their belief that the company will continue to generate adequate free cash flow and double-digit earnings growth over the coming quarters. Citigroup now sees fiscal 2010 EPS of $14.73, up from $14.12 per share, vs. consensus estimates of $13.96 per share, and fiscal 2011 EPS of $17.08, up from $16.01 per share, vs. consensus estimates of $15.64 per share. Analyst Kate McShane said, "We think AZO's share gains in Commercial and Retail, strong value offering from prudent inventory mgmt, improving margins, and strong share repurchase program will enable the co. to beat cons. earnings expectations over the next year, which should drive the stock valuation higher."
Citigroup analysts are adding News Corp. (NASDAQ:NWSA) to Top Picks Live. Citigroup maintains a buy rating on the stock, with an $18 price target, which represents about 23% upside. Analyst Jason B. Bazinet said, "News Corp's dividend payout ratio is 16%, half the rate of some peers. A doubling of the dividend would place News Corp's payout in-line with peers, potentially prompting multiple expansion. Update on News Corp's capital allocation decisions may occur in the next three months." The bank sees fiscal 2010 EPS of $0.94, vs. consensus estimates of $0.95 per share, and fiscal 2011 EPS of $1.15, vs. consensus estimates of $1.07 per share.
Citigroup Equity Research issued a note to clients raising its target for shares of Borg Warner (NYSE:BWA) to $52 from $42 and reiterating its Buy rating on "very strong Q1" results. Citigroup analyst Itay Michaeli said, "BWA trades at 13.6x our revised '11E EPS vs. our target multiple of 16.0x. We cite five reasons why BWA still looks inexpensive: (1) On our numbers, BWA still trades with a modest discount to select industrial peers such as Honeywell (16.2x), United Technologies (14.2x) and Johnson Controls (14.0x); (2) We still view our revised 2011E EPS with an upward bias as it does not incorporate margins above BWA's historic 8.5-9.0% range, even though a valid case for margin upside can be made; (3) We project 18% EPS growth in 2012 driven by an already disclosed backlog; (4) Management's update regarding quoting activity suggests 2013 could see another year of 10+% top-line growth; and (5) Global fuel economy regulations continue to point to a favorable medium-term earnings outlook."
Citigroup Equity Research issued a note to clients raising its target price on shares of Starwood Hotels & Resorts (NYSE:HOT) to $65 from $50 and reiterating its Buy rating saying the stock was a "leveraged play on cyclical recovery." Citi analyst Joshua Attie said, "Starwood's strong 1Q report surpassed high investor expectations and served as a positive catalyst for Lodging stocks today. Results were significantly ahead of our expectation (EBITDA $179m vs. $150m est.) and 2Q local currency REVPAR guidance of 9-11% confirms that trends have accelerated meaningfully. A robust business travel recovery seems under way. 2H'10 appears conservative due low visibility, with room upside (details below). Starwood is well-positioned for what could be a multi-year lodging up-cycle: depressed demand, low supply, exposure to the higher price points where comparisons are easiest, and International markets where growth is strongest. Maintain Buy rating and model portfolio overweight. Increasing 2010E EBITDA to $830m from $765m and 2011E to $959m from $869m. Improving operating momentum and upward estimate revisions should keep the shares working, and overcome high near-term valuation (19x '10E cash EBITDA). TP to $65."
Citigroup Equity Research issued a note to clients early Tuesday raising its target price on shares of Ciena Corp (NASDAQ:CIEN) from $18.50 to $25.00 citing "incremental insights from management meetings." Citigroup hosted the company's CFO Jim Moylan for two days and came away with two major points. Citigroup analyst Kevin J Dennean said, "Discussions w/mgt increase our conviction that interim model will prove very conservative. Mgt again emphasized the decisive portfolio & personnel actions taken in early stages of integration. Synergies were not particularly emphasized at Analyst Day, but we believe they will be a significant part of the story going forward in 2H & beyond. We also believe that interim model doesn't fully account for CoreDirector refresh in 2HCY10, with potential for significant positive GM% impact." As a results, Citigroup said the following , "Our estimates increase based on mgt commentary on MEN (where we had been overly conservative), timing of deal close, & slightly stronger overall growth rates as our cycle conviction increases. OpEx estimates also increase, but more importantly, our CY11 EPS/OM% estimate is now $0.93/6.6% vs. prior $0.53/4.9% & add'l upside likely over time. CIEN stand-alone posted multiple quarters ~15% OM% & we have no reason to believe Classic CIEN is now structurally lower."
Early Monday Citigroup Equity Research issued a note to clients raising its target price on shares of Sprint Nextel (NYSE:S) to $6 from $5. Citigroup analyst Michael Rollins said, "We remain a Buyer of Sprint, and believe our trading call thesis remains intact heading into 1Q results. We expect Sprint's share price to benefit from: 1) potential to stabilize postpaid CDMA performance through 2Q/10; 2) prospects to identify new areas to manage and cut costs; & 3) current valuation that remains at the lower-end of the historical sector range with expectations remaining low for revenue to eventually stabilize. We are raising our target price to $6/shr, as we anticipate Sprint to articulate some operating progress on its1Q call & our analysis of historical share price performance bodes well for S during 2Q." Citi also reiterated their Buy rating on shares of Sprint Nextel,
The Treasury Department plans to sell about 20 percent of the 7.7 billion shares of Citigroup common stock it owns.
The government will start selling shares in Citigroup. It will start with 1.5 billion shares of the total 7.7 Billion it owns.
Citigroup analysts are raising their fiscal year 2010, 2011 and 2012 estimates for IBM (NYSE:IBM) to reflect modestly higher revenue, modestly lower expenses and a lower share count. The bank now sees fiscal 2010 EPS of $11.23, up from $11.06 per share, fiscal year 2011 EPS of $12.33, up from $12.11 per share, and fiscal 2012 EPS of $13.29, up from $13.07 per share. Analyst Richard Gardner said, "While servers, storage and other hardware have only represented a high single digit percentage of IBM's total pre-tax income in recent years, this business should enjoy more operating leverage than any other business during an upturn due to the lack of recurring revenue and the large amount of fixed R&D and sales and marketing expense. This inherent leverage, combined with an end-to-end refresh of the company's server portfolio during the next two quarters, should drive a 25 percentage point swing in server pre-tax margin between 1Q10 and 4Q10. While a significant portion of this is in Street numbers, there could be meaningful upside during the second half of 2010."
Here is a follow up to the blog I posted on tickertank.com a few days ago regarding Citigroup, Inc (NYSE-C). Check out the video and be sure to visit tickertank.com
www.guerillastocktrading.com The biggest bank the world has ever known. This bank even has the full support of the American government and people and has access to printing money on demand whenever it needs it because it's too big to fail. Yeah I'm talking about Citigroup (C). A once in a lifetime opportunity to buy this bank at only $4.50 a share and yet millions of traders will miss out. Why? Because they bring their own political views and biases into their decision making regarding what stocks they buy. In this video Mike and Lance talk shop about Citigroup and then they demonstrate the absurdity of what millions of stock traders will do.
This video makes the case that you buy Citigroup stock before it breaks $5 per/share.
This video makes the case that you buy Citigroup stock before it breaks $5 per/share.
4/1/2010-Citigroup (NYSE:C) said its initial public offering of its Primerica life insurance business raised $320.4 million. The investment bank said that the offering included selling approximately 21.4 million shares at $15 each, vs. its previous forecast of selling 18 million shares in the range of $12 to $14 each. Shares of Primerica are expected to commence trading Wednesday on the NYSE under symbol "PRI." Citigroup said it intends to sell the rest of the unit after it goes public, in an effort to boost its cash position.
The US government announced that it would be selling the 7.7 billion shares of Citigroup stock it bought to bail the troubled bank out. The story: www.businessweek.com Join The Daily Conversation on Facebook tinyurl.com Follow our Tweets for new videos twitter.com Background image can be found here: www.flickr.com With permission under creative commons license: creativecommons.org
NEW YORK — The Treasury Department said Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit to the government of about $7.5 billion. The government received 7.7 billion shares of Citigroup in exchange for $25 billion it gave the bank during the 2008 credit crisis. It said it will sell the shares over the course of this year, depending on market conditions. Like any investor, the government will likely hold on to its shares if prices fall steeply. However, Citi shares have steadily been rising with the broader market in recent months, which means the Treasury Department stands to pocket a hefty profit. The government has been trying to unravel the investments in made in banks under the $700 billion Troubled Asset Relief Program, or TARP, that came in at the height of the financial crisis. Citi, one of the hardest hit banks during the credit crisis and recession, received a total of $45 billion in bailout money, one of the largest rescues in the program. Of the $45 billion, $25 billion was converted to the government's ownership stake in the bank. The Treasury paid $3.25 a share for its stake. New York-based Citi repaid the other $20 billion it owed the government in December. The Treasury had been planing to sell 20 percent of its stock at the time when Citi was selling new shares late last year. At a price of $3.15 a share, the government would have lost $158.7 million on the sale, so it opted not to participate in the deal at ...
3/16/2010-Citigroup initiated coverage of Pharmasset (NASDAQ:VRUS) with a Buy rating and a $34 price target as the bank believes the company's RG7128 should become a major drug in the lucrative hepatitis C market. Analyst Yaron Werber, MD remarked, "We believe that RG7128 (currently in ph 2b) will become a backbone of therapy due to its synergistic mechanism of action with other novel drugs. We anticipate ph 3 starting by late 2011 with approval in 2014. Thus, while the drug is behind VRTX's telaprevir and MRK's boceprevir (approval in 2011), it will not necessarily be competitive, but can be used in combination." Werber continued, "Our est ~$3B in global sales for RG7128 in 2018 are conservative as they imply a modest 18%-20% peak share. This should drive profitability in 2015."
Citigroup upgraded Wal-Mart Stores (NYSE:WMT) to Buy from Hold and raised its price target to $65 from $54. Analyst Deborah L Weinswig said, "WMT's negative traffic comp in 4Q09 served as an indication that WMT may be losing the customer it had gained during the recession by allowing the price gap with the supermarkets to narrow. WMT's price savings no longer outweigh the experience and convenience of shopping the supermarkets. As the economy improves, we expect WMT to fight harder to keep this customer by sig. increasing rollbacks to drive mindshare and market share." The bank expects the company to report 2011 EPS of $4.04, versus consensus estimates of $3.98.
Here is a follow up to the blog I posted on tickertank.com a few days ago regarding Citigroup, Inc (NYSE-C). Check out the video and be sure to visit tickertank.com
3/11/2010-According to a report from the Financial Times, Citigroup (NYSE:C) CEO Vikram Pandit is expected to say today that the bank could earn as much as $20 billion from its Citicorp by 2012. Citicorp, which includes the bank's wholesale and retail banking operations, generated a net income of approximately $14.7 billion during FY 2009.
3/9/2010-Shares of Citigroup (NYSE:C) are trading 6.7% higher to $3.80 Tuesday after the company announced it is offering around $2 billion in $25 par 30-year trust preferred securities, or TRUPs, as part of its agreement with regulators on repaying federal bailout funds, Dow Jones reported. In December, Citigroup agreed to sell the securities to boost its capital ratios after it repaid $20 billion in trust preferred securities held by the US Treasury. The securities are seen yielding around 8.875%, with heavy demand from institutional and retail investors, according to a person familiar with the deal.
3/3/2010-Citigroup's (NYSE:C) Primerica has agreed to sell $230 million in stock to Warburg Pincus, ahead of a planned IPO of the insurance unit, according to a Bloomberg report. According to terms of the agreement, Warburg will buy the Primerica shares at a 5% discount to the unit's book value at the end of last year and will gain the right to acquire $100 million additional shares after the IPO launches. Following failed efforts to sell the unit outright in November, Citigroup announced plans to sell part of its stake through an initial public offering. Primerica is a network of agents who sell insurance to their acquaintances.
SmarTrend identified a Downtrend for Citigroup (NYSE:C) on October 28, 2009 at $4.13. In approximately 3 months, Citigrouphas returned 22.8% as of today's recent price of $3.19. Citigroup is currently below its 50-day moving average of $3.63 and below its 200-day moving average of $3.78. Look for these moving averages to decline to confirm the company's downward momentum. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Citigroup.
The Fairholme manager describes the thesis behind the fund's recent purchase of Citigroup stock. For more Morningstar Video, please visit: www.morningstar.com
Citigroup Inc's. (NYSE:C) stock is down nearly 5% in late-afternoon trading Monday in reaction to the announcement that the bank will repay the Troubled Asset Relief Program, or TARP, $20 billion, but analysts say the news is good over the long term. As the Wall Street Journal put it, "Once the knee-jerk selling and the taxpayer is out of the way, Citi will be free to become a fat cat once again, and that should be good for the stock over the medium to long term." Repaying TARP is a sign of ...
Dec. 10 - Citigroup will sell about $15 billion in stock to help repay borrowed TARP funds. Citigroup could soon pay back the money it borrowed from the US federal government. A source tells Reuters the bank giant is planning a $15 billion dollar stock market offering a move aimed at raising the money to pay back money from the government's Trouble Assets Relief Program TARP. The company originally borrowed 45 billion, of which the government converted 25 billion into stock, giving the US ...
www.stockmarkettimingtelevision.comSign up Today. Free Daily Stock Market Newsletter Each day at this time, Stephen Whiteside of theuptrend.com takes a look at the S&P 500, NASDAQ, Crude Oil, Gold VIX, SOX, S&P Bank Index, PHLX Gold/Silver, 30 Y TBonds, US$, Natural Gas. For more information please visit www.theuptrend.com
Referencing a letter I provided to Senator Christopher Dodd on the subject of predatory banking and banking reform, a substantial change is taking place in the financial industry. This video explains that change, demonstrates why it will help states like California find additional sources of tax revenues, why it will help reduce the foreclosure rate, help small businesses earn more money, and relive some of the economic strain on consumers. Banks will pay the price, however.
2009 TARP bailout theft protesters protestors Congress Wall Street stocks profit Citigroup Nomi Prins It takes a pillage stimulus economic reform regulation dollar usdx gold silver stock market dow s&p 500 G20 G-20 collapse crash economy Geithner Bernanke Barney Frank regulatory reform Fed Federal Reserve Treasury ... Goldman Sachs TARP bailout Morning Meeting Dylan Ratigan Lloyd Blankfein CEO Wall Street stocks profit Citigroup Nomi Prins It takes pillage stimulus economic reform regulation ...
FBN's Charles Payne, china, economy, inflation, fox, news, network, wall street, wallstreet, money, cash, markets, flow, hyperinflation, wall street strategies, los angeles, investor, investment, business, cavuto, glenn, beck, timothy, sykes, promote, revenue, influx, smart, recommendation, kind, American, republican, democrat, left, wing, right, wing, liberal, conservative, green party, tea party, Europe, finance, financial, large, small, gains, portfolio, suggestion, stock suggestion ...
Interrupting the MLB Baseball playoffs for this? Unemployment is a lagging indicator, and with the Christmas Season upon us, this special announcement is used to help consumers consume ... economic collapse "Dollar collapse" citigroup stock shares unemployment lagging indicator walmart cleaning washrooms volunteer baseball playoffs world series saturday night live sketch improv
Today we looked at many charts all around and have tried to make sense of the market action. While we got the strong pull back we expected early on in the day, the market did reverse and move higher making the daily S&P candle not so bearish. We still want a confirmation lower and a break of a trend line before we can get more bearish but the setup in other stocks excluding energy is to the downside. With the XLF showing huge down volume in the last 20 minutes it seems like we could see an ...
C Citigroup Stock Prediction Forecast Trade Strategy
The correct way to trade Citigroup right now, get correct entry points and be mindful of the above resistance at the 200 day moving average
hexi.us citigroup news,citi bankruptcy, citigroup stock price, citigroup, cit group news, cit news Judge rules in favor of Destiny over Citigroup in a legal battle over the construction loan financing Phase I of the Carousel Center expansion.
Analysis and Discussion with Geoffrey Dennis of Citigroup (Taking Stock) ... NYSE:PBR Law Legal Issues Personal Finance Business Economy Energy International Government Politics Editors Pick
game, but you do whatcha gotta do Now there may be an unpleasant odor on my finger But the scent of savings will truly linger If I just make this last roll last until 2022 The recessions even making our love life less romantic Cant afford pay per-view, now we use National Geographic Cant bear to open my legs, when all my favorite stores have closed You always loved me before, but do you still think Im a winner Now we eat Mickey Ds for breakfast, lunch and dinner And its not my body, but ...
Stock Market Trading News, Analysis & Dividend Reports, Stock Dividends, Stock Market News, Market Wrap-up, Citigroup Inc. (NYSE: C)
Today my friend traders and I start looking at a longer term perspective and the possibility of wave B of primary wave 2, starting at the 87.50-87.60