Hartford Financial Services is a big insurer and HIG's stock is just going down and down and... As of now, the stock is right at the top of the down-trend channel. This tells me that the stock is likely to fall because of the resistance exercised by the trend. It would be very surprising to see this stock just reverse the pattern and get back to higher price levels quickly. The stock has lost more than 25% since the start of the year and that is bearish. The p/e is low and I don't like it for a short candidate but, the sector is not in great shape and next quarter earnings are expected to be lower. I don't want to ride this one a long time, just enough to get a good profit out of it and cover.
$64.26 (08/29/08)
