What you see in these charts are the reason why I laddered into C March 4 and 5 calls. I had tweeted yesterday and maybe even Monday that C is setting up for a great buy on Friday. However, today the daily chart showed an opportunity. I think C is so oversold that it can bounce and still be oversold on a week over week basis. Its this weekly oversold condition that could potentially reverse the stock and turn it much higher.

I did other stuff today as well, but will save it for tomorrow. As the C spectacle deserves its own space. Bloomberg covers the situation well here. I have a feeling that a few things will happen. The govt will not take a loss on C position and an up move could be orchestrated. Heck this entire late day selloff could be orchestrated. I know that when these signals come on, its always the worst of times for that stock. It looks its ugliest before it bounces. However, its a high probability that it will bounce. Remember my UNG trade? or my Gold top trade? This is the same concept. Something is coming and I don’t know what it is, I never do, all I know is everyone will be talking about it a few weeks from now, and that’s the way it happens every time when these signals happen. Something falls out of the sky as the excuse to cause a move, yet the charts were saying it before hand.

*both gold and nat gas trades are technically off the table now and revert back to their previous trend which was down and gold up. However, nat gas is turning this week and gold remains up.

Thanks for reading

Want to know when I post again? Subscribe to the StockRake feed: .