Three Ideas For The Afternoon
Insurance stocks are in the news
today, with American International Group
(
AIG |
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PowerRating) announcing profits up 11%,
Aetna
(
AET |
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News |
PowerRating)
beating by .48, and Aflac
(
AFL |
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PowerRating) beating estimates — Merrill Lynch
downgraded the stock to a “sell.” The Insurance Index
(
$IUX.X |
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PowerRating) is
trading down today.
This high volume down-bar may signify a trend
change in Aetna
(
AET |
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News |
PowerRating).
Qualcomm
(
QCOM |
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News |
PowerRating) profits more than doubled,
but the stock has sold off today. On the daily, it’s trading below its 50-day
moving average, near the bottom of a possible bear flag. A break below this flag
indicates lower prices for Qualcomm.
Chinese Internet company
Sohu.com
(
SOHU |
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Chart |
News |
PowerRating)Â is benefiting from the SARS epidemic in that
country. It pulled back to its .618 retracement intraday and may move higher
from here.
Have a good afternoon.