It seemed to me that stocks dip between 11 a.m. and noon (EST), particularly in Citigroup, so I did a little checking.
Friday, April 10: 11 am 2.92, 12 pm 2.94
Monday, April 13: 11 am 3.41, 12 pm 3.39
Tuesday, April 14: 11 am 4.43, 12 pm 4.29
Wednesday, April 15: 11 am 3.75, 12 pm 3.67
Thursday, April 16: 11 am 4.01, 12 pm ?
I don't have data before Friday the 10th, but this shows that for at least the last five sessions, C has suffered during lunch hour. Could be a coincidence, but at the very least, it might not be a good idea to buy during the hour until it's closer to noon. It's 11:08 a.m. Eastern time, so this test is in action. C is trading at 4.02, trading kind of orderly so far today.
Citi earnings are out tomorrow morning, coming off today's earnings report from JP Morgan ($.40 per share vs. $.32 expected). That didn't upset the market, but didn't stoke a fire, either. Earnings might be playing a factor in this slight change of pattern.
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