I will have to get up to speed on the point and figure charts. I don't really know how to read those. I stayed away from INO for now. Will keep an eye out for a better entry point. I sold HCBK after volume decreased on the breakout.
Today I looked through some property and casualty insurance companies. This looks like a strong group within the financial sector. Looking at the individual companies in the group my broker puts together, I counted approximately 55 stage 2's, 11 stage 3's, 2 stage 1's, and 0 stage 4's. 3 were not clear enough to read. I say approximately because I counted a few as 2 and 3 when I could not make a decision. In any case it was clearly bullish and most 30 WMA's were rising strongly. It appeared many in the grou were in a pullback towards the MA, but with the MA's still rising strongly I thought it would be a good place to look for a continuation buy.
After going through the individual charts, my favorites were ASI, AGO, HCI, HTH, UVE. None have great entry points today, but ASI has been trading in a very narrow range the last 6 weeks. So, you could set a close stop on that one. None have any 10 year overhead resistance except AGO.
