While the market ripped to new highs, albeit on low volume, AIG has struggled to break its own 50d MA in the past week. With NIRP, ZIRP, and flat equities since 2015, can't be good for AIG. Short into earnings...
Quick observation: AIG is turning up from a base and is lagging far behind TRV which has already returned to its highs.
I would risk a drop back under the EARNINGS SUPPORT line about 2% lower (but use a 4% or so stop loss) and target a rally to the 60-62 area, up more than 6-7 points or 13%.
Keep an eye on TRV to make sure it holds up against the highs or else...
Testing a Strategy Shoot and Run ®. (2nd week)
Tested last week with some success, here on TV Demo account, i have decided to keep testing it and to share the strategy this next week, this will allow me to create a "journal" of this trades to study.
I enjoyed last week, I hope to create interest in some of you, who are in the learning process like me, and...
Bull market and reached the top of the side channel
I believe a correction
The minimum of the next trading day already come in short ...
Good trades to all ...
100 & 200DMA should provide lift for a bounce. Notice the repeat pattern... Earnings will determine break out to the upside or a return to the range.
Open 3 positions or more for the two main targets with additional positions for a continuation. Move stops to protect positions once price has cleared them.
Good Luck!
For those of you not paying attention to the Financial News, we've got an important case that could alter the market next Spring. Why next Spring? This is when a decision will be made as to who will pay or not pay Hank Greenberg and others up to $40 billion dollars. Not only that, if the US Government is on the hook for some or all of the award, it could allow...
