Isn't it nappy time for you kids about now?
Have some lunch and juice…you'll feel better.
Stupid shills never learn
That was a quick trip down on BIG volume.
Gets to the neckline, yesterday's close it will need MUCH help staying positive.
Put a fork in it.
It's done..no recovery from that.
On the last tow legs down look at the volume spikes. Big boys wanted out in a BIG WAY.
wrong NAS chart… this one correct.
They are out of any meanigful ways to stop this.
Blew it's load over the last 10 years.
Printing moar $$ only makes it worse. Bad enough already
Citigroup Faces $180 Million Loss on Loan to Asia Fund
(Bloomberg) – Citigroup Inc. faces losses of as much as $180 million on loans made to an Asian hedge fund whose foreign-exchange wagers went awry, according to a person briefed on the matter.
The hedge fund and Citigroup are in discussions on the positions and how they should be valued, said people with knowledge of the talks, who asked not to be identified because the discussions are private. The situation is fluid and the eventual losses may end up being smaller depending on how the trades are unwound, one of the people said.
The matter was escalated to Citigroup’s board, one person said. The bank is also reorganizing its prime brokerage business as a result of the expected financial hit, the person said. It’s taking the FX prime brokerage unit out of the currency trading division and placing it under the oversight of its prime finance and securities services unit, according to a memo from the bank.
Chris Perkins, who leads the bank’s over-the-counter clearing business, will become head of the FX prime brokerage, the company said in the memo Tuesday. Sanjay Madgavkar, who ran the FX prime brokerage unit and has worked at Citigroup for more than 20 years, is leaving the firm, the person said. Madgavkar declined to comment.
The episode shows that banks are beginning to feel some of the pain that’s besieged the hedge fund industry this year as geopolitical tensions around the world have spurred dramatic swings in asset prices. The $3.2 trillion industry is on track to post its worst performance since 2011, and hedge funds with a focus on Asia are particularly struggling.
The reorganization comes as Citigroup has been expanding the prime finance business, which is a part of its equities trading division and helps hedge funds in borrowing stocks, funding, transactions and risk management. At the firm’s investor day last year, Citigroup said it had increased client balances from prime brokerage clients by 40 percent since 2014 and noted its revenue growth in the business doubled that of its Wall Street peers.
But lending through the prime brokerage can bring the risk of large swings in revenue. The firm said in July 2015 it would take a $175 million charge from prime finance when it cut the value of collateral underlying loans to facilitate customer trading activity. Three months later, the lender reversed $140 million of the valuation adjustment.
https://finance.yahoo.com/news/citigroup-faces-180-million-loss-193051447.html
Any trader worth ANYTHING would book up to 75% of the short at the top earlier, RIGHT HERE, and let the remaining 25% ride.
The meetings going on at the hedgies, 'tutes, and big box shops are going to be EPIC.
Would not walk by any tall buildings in NYC tonight.
mid-day reversal like that is tough to come back from. All the tech traders just closed it up and are doing something else. Unless they work for someone else.
Love it!!
You do a far better job at making.
If it's out there already anon can usually find it.
This is one of my favorites even w/o the addition
ty again
o7
if you think it's questionable CP then report it PROPERLY
bitching about it does no good
top left arrow
Now STFU about it.
Pumping it into the close..chart next bread