|Day Low/High||13.19 / 13.40|
|52 Wk Low/High||9.41 / 14.97|
Trade-Ideas LLC identified MGIC Investment Corporation (MTG) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate
Since 1975, every year that has followed a 20%+ market rise has experienced a peak in the first quarter.
MGIC Investment Corporation was a leading decliner within the insurance industry, falling $0.10 (-1.2%) to $8.42 on light volume
KBW analysts expect mortgage origination volumes to fall to $1.15 trillion on the back of a drop-off in refinance activity.
Investors eyeing a purchase of MGIC Investment Corp. stock, but cautious about paying the going market price of $8.21/share, might benefit from considering selling puts among the alternative strategies at their disposal.
MGIC Investment Corporation was a winner within the insurance industry, rising $0.16 (2.0%) to $8.34 on average volume
A return to 'normalized' earnings 'could be closer than the market expects,' according to Goldman's analysts.
I would attribute the market's rise to being oversold and having some good news to glom onto.
Cramer sees Best Buy going higher and won't be dumping Halcon Resources.
Now that the short-term crisis has passed, let's look at Sallie Mae and mortgage insurers.
MGIC Investment Corp (MTG) posts second quarterly profit after six years of annual losses, shares up 14%. Competitors Radian Group (RDN) and Genworth (GNW) join mortgage insurer rally.
Thee heavily shorted stocks could get squeezed much higher if they report positive earnings this week.
MGIC Investment Corporation was a winner within the insurance industry, rising $0.16 (2.2%) to $7.36 on average volume
When a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits.
Virtually all roads now lead to good things for this sector.
Cramer says Radian Group won't be affected by rising interest rates while Precision CastParts has the advantage of being in a strong sector.
These under-$10 stocks are being bought by Wall Street's biggest players.
MGIC Investment Corporation was a leading decliner within the insurance industry, falling $0.21 (-2.8%) to $7.28 on average volume
Today's action supported my view that we will see trouble in the month ahead.
We are essentially even with last Thursday morning, but by this Wednesday, we will be maximum overbought on an intermediate-term basis.
If the S&P 500 hits its target and negative divergences are still in place by Wednesday, look for some downside into mid-August.
More stocks reached new highs today than in mid-July on the NYSE, but the Nasdaq was pathetic.
A lower high in the market would give me more confidence in my call that August will be a difficult month.
If I had to predict how the market reacts to the Fed decision, I would say it drops, because it feels a bit complacent out there.
After two weeks of chop, resistance on the S&P is up in the 1690 area, and support is layered at 1682 and 1675.
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