{"id":705862,"date":"2010-03-31T07:08:00","date_gmt":"2010-03-31T11:08:00","guid":{"rendered":""},"modified":"2026-10-04T11:54:42","modified_gmt":"2026-10-04T15:54:42","slug":"taking-a-pass-on-citigroup-shares","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/705862","title":{"rendered":"Taking a pass on Citigroup shares"},"content":{"rendered":"<p>If you own <a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=C&amp;id=258242\" >Citigroup Inc.<\/a> shares, think about selling. If you were planning on buying, then consider holding off for a while.   <\/p>\n<p>That&#39;s the recommendation of Ken Norquay, chartered market technician,  CastleMoore Inc., on <a href=\"http:\/\/www.financialpost.com\/todays-paper\/story.html?id=2741492\" >news<\/a> that the U.S. Treasury will start selling its 25% emergency stake in the U.S. bank.  <\/p>\n<p>He said one of the most important influences on any stock\u2019s price is the presence of a large seller or buyer in the market. In this case, it makes sense for new investors to postpone their Citibank stock purchases to see if the U.S. Treasury&#39;s sale plans drive the price lower.&nbsp;&nbsp; <\/p>\n<p>&quot;After all, if the share price were to go up, the US treasury would flood the market with its 7.7 billion shares and cool the price back down,&quot; he said in newsletter to clients.&nbsp; <\/p>\n<p>&quot;The risk that a new investor in Citibank will miss out on a big rise in the price of the stock vanished when the treasury announced their sale. The real risk is that government selling will drive the price lower.&quot;<\/p>\n<p>As for investors who currently own the stock, Mr. Norquay thinks most will sell now, before the government sells.&nbsp; <\/p>\n<p>&quot;This week\u2019s announcement has put a lid on the price of Citibank shares until the government\u2019s selling program is complete.&quot;<\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett&nbsp;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=416466\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you own Citigroup Inc. shares, think about selling. If you were planning on buying, then consider holding off for a while. That&#39;s the recommendation of Ken Norquay, chartered market technician, CastleMoore Inc., on news that the U.S. Treasury will start selling its 25% emergency stake in the U.S. bank. He said one of the [&hellip;]<\/p>\n","protected":false},"author":2571,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-705862","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2XCS","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/705862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/2571"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=705862"}],"version-history":[{"count":1,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/705862\/revisions"}],"predecessor-version":[{"id":806807,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/705862\/revisions\/806807"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=705862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=705862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=705862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}