An ACE Up Your Sleeve
Short term, the markets are extended. We all know that. Intermediate term our markets are not that overbought, but I did see that most world indices last week including the NYSE registered over and under, two-bar reversals last week. That setup opens the door to a retrace on a weekly time frame. In other words, price should attempt to push lower across most world indices this week.
So where can one buy and not be left hanging out to dry when the inevitable turn comes on the short-term time frame? Insurance companies are likely to hold up better than the broad market on a downswing, and when I consider those, one name pops to the top -- ACE Ltd. (ACE), a Swiss insurer that is debt-free, pays a 2.5% dividend and has great-looking charts....266 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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