Citigroup shares soar.(NYSE:C)

Citigroup Inc (NYSE:C) shares rose as much as 6 percent to their highest in more than three months on growing confidence that the embattled bank would become more profitable as it unloaded troubled assets.
People are buying it now in expectation of the triple because they made the decision that all of the negatives that could happen don't mean anything.
Some investors are betting that Citi shares will triple in three years.
Citi received $45 billion of bailout money from the U.S. Treasury's Troubled Asset Relief Program, known as TARP, and the government now owns a 34 percent stake in the company.
But shares are rebounding after higher-than-expected second-quarter earnings and a high-level management shake-up.
Citi shares are still well below their 52-week high of $23.50 in October.

Tracking the Dow on Thursday,20/08/09(3 more weeks to Triple Witching)
Asiaan Index Futures Rollover contracts start 24/08/09.Expiry:31/08/09

9:30am:--A mild bearish hammer open.
Initial claims for the week ending August 15 totaled 576,000, which was more severe than the 550,000 claims that were widely expected.

10:30am:--A slight pullback from session high but rested on the bull pivot with inverted hammer.

Dow Jones reported that U.K. retail sales beat expectations and hit a 14-month high in July.

11:30am:--An early spike down to MAV support,a good sign being followed by ascending soldiers.

The Philadelphia Fed Index came in at 4.2, which is considerably better than the -0.2 that was expected and up sharply from the -7.5 that was registered in July.

12:30noon:--The indicies are holding strongly at the bull support pivot.

The US Dollar Index is choppy this morning, but us trading in positive territory, adding selling pressure in precious metals.

1:30pm:--Pullback holding near session high.

The major indices have extended their morning advance, giving stocks impressive gains.

2:30pm:--Another pullback to bull pivot with a dragonfly doji star.

The leading economic indicators made their fourth straight increase by advancing 0.7% in July.
3:30pm:--The day's high was established.

Continuing claims also fed fears that the labor market remains extremely weak by rising slightly to 6.24 million even as many lose their unemployment benefits.

4:00pm:--Last minute profit taking but held strongly with a bullish harami.

The Dow is now enroute to a breakout of August high (9,437.71) by just a mere 87.66 points.

More signs that the economy is creeping toward recovery encouraged investors to move further into stocks -- but at a cautious pace.
Financials were particularly in demand after a report quoting American International Group Inc.'s CEO as saying the company will repay its bailout loans from the government.