Its been reported today that US government decided to set back from Citigroup Inc. NYSE:C after selling its remaining shares in the financial giant on Monday for about $4.35 each, leaving itself with almost $12 billion gross profit for its taxpayers.

According to the US treasury officials the sales proceeds will generate about $10.5 billion with the public offering of Citigroup’s 2.4 billion shares. In the year 2008 Treasury gave bailout amount to Citigroup a total of $45 billion to protect it from financial crisis. Now the banking giant has given back this amount at $20 billion in preferred stock and the remaining $25 billion amount was converted into $7.7 billion of Treasury’s common stock.

1) Most major indexes in recent days have failed to break through their November highs. The Nasdaq — which has led the market in the current uptrend — is tentatively holding above its November peak.

The indexes' November highs roughly correspond to the April top, so you could say this battle has been going on for some time.

On Wednesday, the Nasdaq and the S&P 500 added 0.4% each, while the Dow and the NYSE composite edged up 0.1% apiece.

Declining stocks, however, led advancers on the NYSE, and were about even on the Nasdaq.

Volume fell 20% on the NYSE and 7% on the Nasdaq.

Among industry groups, the picture was far from ideal. Top performers Wednesday were mostly from laggard groups — newspapers, books and banks. The day's losers were from highly rated groups, such as auto parts, miners, oil explorers, coal producers and farm machinery makers.

Recent action appears to favor holders more than buyers. While that makes such leaders fairly easy to hold, not many high-rated stocks have broken out recently. That could change if the market showed more muscle and consistency. Those three stocks are sketching attractive sideways action that could turn into bases and perhaps breakouts.

Although the Nasdaq has risen for six sessions in a row, generally lackluster volume gives the action an indefinite tone. So even though the current market outlook is that of a confirmed uptrend, common sense suggests caution.

2) the new china ipo volume seems suspect (no spike as per lvs) & not my type, who knows maybe it can bring virgin luck to 1st timers?



It’s a land grab, as investors want early stakes in China’s online ad and commerce markets, says Dennis Wassung, associate portfolio manager for Cabot Money Management. Cabot owns shares in twoof China’s top Internet companies, U.S.-traded Baidu and Hong Kong-traded Tencent Holdings.

Dangdang has scant profit, and Youku is a money loser, but investors remain bullish on the prospect of fast-rising global economic and tech power China. “We’re always very hesitant to get involved in a hot IPO right out of the gate,” Jacob said, “but absolutely we will be following these
companies.”

In the third quarter, Dangdang posted a profit of $5 million, up 295%, onrevenue of $90 million, up 55%. It lags behind China e-commerce leader
Taobao. Youku, which gets its revenue from ads, lost nearly $25 million on revenue of $35 million for the first nine months, it says. But Youku is China’s No. 1 video site by revenue, with a 20% market share, says Analysys International.

3) if anyone absolutely prefer ipo, here is a food for thought