C Citigroup (13.11)

Bulls may have pumped another 170 points of hot air into the Dow yesterday, but they failed miserably where it counts — in Citi, a stock that I characterized here the other days as THE bellwether to watch. The stock fell 32 cents while the broad averages climbed and now looks ready to re-test an 11-year low at 12.00. The spinmeisters have managed to keep this bank out of the news for the last couple of weeks, but only someone with the acument of Kudlow could believe Citi’s problems are other than fatal, or that they will not eventually precipitate out in disaster.