Citigroup Stock (C)

Bank of America lowers financials… KKR – BofA lowered the firm’s price target on $KKR to $138 from $143 and keeps a Buy rating on the shares. The firm is adjusting its estimates and price targets for alternative and traditional asset managers ahead of Q3 earnings from the group. $BX – BofA analyst Craig Siegenthaler lowered the …

* Apropos to my “Not Broadening” column earlier today… As the financials go, so goes the market is the “old saying.” $JPM -$8 $C -$2 $SCHW -$5 $GS -$10 $MS -$4 Well, financials are truly stinking up the joint! Positions: None

Citigroup ($C) rallies about +$3 on comments at the Barclays Financial Conference that it expects full-year ROTCE to be “a bit above 11%” (which compares to its previous forecast of 10% to 11%). Position: None

Despite pleas of broadening out, the equity market is teetering on a disbroadening.Here were yesterday’s stats: * $SPY -0.29% * $QQQ +0.27% * $IWM -0.89% * $RSP -1.22% To me, key to the broadening-out thesis would be continued strength in financials, which was nowhere to be found: * $JPM -$8 * $C – $3 …

* And fading it… I don’t own and am currently short (and have been recently short C, JPM, GS, MS, UBER, NFLX, homebuilders, etc.) some of the most consensus sectors. I am long some of the most non-consensus sectors. Consensus Longs: * Memory: SanDisk ($SNDK), Micron ($MU), Intel ($INTC), AMD ($AMD), Applied Materials ($AMAT) (“it’s different …