Thursday, November 09, 2006

Trade Ideas: AHL

Markets took a breather from recent gains, edging lower during afternoon trading on significantly heavier volume (CSCO earnings contributing a large part to this volume). Although the markets had a good day yesterday, it wasn't reflected in the buying through my Trade Ideas scan. This time, the level of buying increased so that 8 picks covered a time span of 20 minutes; a better improvement on yesterday, but still below the more consistent buying of last week.

Marvel Entertainment (MVL), Monsanto (MON), and the Materials Select ETF (XLB) were the only picks to break the 20 daily appearances barrier for the day; so money buying was relatively thinly spread. The last stock to feature was Aspen Insurance Holdings (AHL) - but it only garnered 9 appearances for today.

Aspen Insurance (AHL) pays a healthy 2.4% yield and has enjoyed some recent narrow trading. The stock closed just shy of breaking $26.25 resistance; a stumbling block dating back to late 2005. The next level of resistance is at $29.50 and if this was cleared it would leave a free run to a projected target of close to $38. Stops can go at the most recent reaction low.

Aspen Insurance Holdings Limited, through its subsidiaries, provides insurance and reinsurance products and services principally in the United Kingdom, Bermuda, and the United States. It operates through four segments: Property Reinsurance, Casualty Reinsurance, Specialty Insurance, and Property and Casualty Insurance.



If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.


 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c