NEW BULLISH Plays
The Hartford Financial Serv. Group - HIG - close: 29.03 change: +0.23
Stop Loss: 27.25
Current Gain/Loss: unopened
Entry on May 07 at $--.--
Listed on May 06, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 7.3 million
New Positions: Yes, see below
Why We Like It:
Many of the insurance stocks have been showing relative strength thanks to strong earnings results. HIG reported a few days ago and bested estimates by 10 cents a share. Now the stock is at a 52-week high. I am suggesting small bullish positions now at current levels. However, I do think patient traders will probably be able to buy HIG on a dip at $28.50 soon so consider waiting for the dip as HIG fills the gap from Friday morning. The early 2011 high near $31.00 could be potential resistance but we're aiming higher. Keep in mind this is a multi-week trade so we'll need patience for the trend to play out for us.
I would start this trade with small positions to limit our risk.
Suggested Position: buy HIG stock @ (the open)