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With an increasingly growing consensus that the broad market must correct or consolidate, the risk actually becomes that traders become ill-prepared for the even that individual stocks continue on higher. In that sense, it behooves you to actually protect yourself in lieu of being caught flat-footed as stocks melt higher. As I discussed on Friday, I raised more cash into the weekend as many stocks do, indeed, look a bit stretched here. Nevertheless, overbought conditions can become exacerbated in the early stages of a fresh uptrend. Hence, it proves worthwhile to be adequately prepared with sound watchlists of stocks not yet extended and in good technical shape.
Many of the insurance-related stocks have notably improved of late. Dow component Travelers broke out on Friday, despite most of the attention focused on mega cap tech firms in the benchmark such as Intel, IBM and Microsoft. In addition, the mortgage insurers continue to look enticing for breakout players.
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LOL at the picture
Yes, great picture. Good point about being prepared for a continued drift up. Will watch for your picks on 12631.
Thanks for all your help,its working!
Both CB and TRV report this week. When you see a bullish technical condition like you do now, do you wait for the earnings event or go ahead and buy?
Hate buying ahead of earnings myself..