Count me in the large group of traders wanting to see many charts tighten up and offer better entry points for my long swing traders.
However, as I alluded to in my video market recap earlier, the market does not much care what I desire. The nature of a bullish tape is that eager bears and overly cautious bulls are left behind in a major way. Furthermore, every time it seems reasonable and perfectly logical to have a pullback, the market simply pushes on higher. Eventually, that changes and we do see that price pullback so many are yearning for, probably when they have finally given up hope it will ever come. However, whether that happens tomorrow, next week, or next month, remains to be seen.
I recognize that you could always make that argument. But uptrending markets are uniquely and notoriously difficult to top-call–I would argue far more difficult than bottom-calling a correction, for example.
At any rate, we know the insurers were extremely impressive on Tuesday. Should the broad market continue to defy a widespread correction in favor of continued rotation, I am looking at the following under-the-radar insurers, beyond the widely-watched ones by traders. Some of these are thinly traded, so be careful placing market orders.
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What an insane picture. Interesting plays too, thanks
sensory overload..
8)