Monday, April 9, 2012

Arch Capital Group (ACGL) and XLK

Still holding XLK from AAPL conviction. I believe this will lead the market higher. It's been looking sick over the past week, but I'm holding based on my trading rules. Set stops and forget it. Support area in yellow.

Arch Capital has been traded sideways for what seems like forever now.  I think this is longer term consolidation.  Earnings might help it out on the 25th. Stop set at $35.50, looking for a retest of $38.




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