This call has me scratching my head other than they want to buy the shares cheaper. WLT almost got to $20 a week or so ago that's when this call should have been made. Now China is taking more measures to stimulate their economy which should give WLT a better chance going forward and the ECB just lowered rates recently. Citi sees WLT shares struggling a bit lately so why not push them down and buy them cheaper themselves for the recoveries abroad that most anticipate in the near future.
Citi lowered their price target to 19.00 a share. Over 12% higher than what we're at right now. This is a gift from the stock gods at 16 and some change. I'm buying another 1000 shares at the open. 19 to 16 in 5 days. Just crazy not to buy more here.
I said this 5 trading days ago and I'll say it again, I'd let it test the low of Nov. 1st at $15.81. I'm thinking it could print as low as 15.70. If the volume is heavier than 13M or it can't bounce back above that low it'll get stuck back down in the lower range. The volume did dry up some today though but it was a low range close and the volume could come in real fast once the stops get hit. If they take it up without running the stops then I'll short it again.