Hartford made 100% today after marking a weekly 13 2 weeks ago around 4 The CEO claimed it will earn around 4.90 for the year that made it trade at a PE below 1 at the low technicaly. That pushed the whole insurance sector and financials in general. Also Biotech was a big outperformer the whole day. As the market closes at the highs likely turning around the weekly charts as well we might se a retest of 900 SPX early next week and even 940 is a possible target before turning down again.
Friday, December 5, 2008
Hartford financial - the stock that turned around todays market? - market wrap up
Hartford made 100% today after marking a weekly 13 2 weeks ago around 4 The CEO claimed it will earn around 4.90 for the year that made it trade at a PE below 1 at the low technicaly. That pushed the whole insurance sector and financials in general. Also Biotech was a big outperformer the whole day. As the market closes at the highs likely turning around the weekly charts as well we might se a retest of 900 SPX early next week and even 940 is a possible target before turning down again.
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