bounced off 200 DMA.Chart looks horrible, regardless of how ORI has done in past, market is saying title insurance biz has peaked.I own 75 shares, and to say this is a screaming buy is to ignore the chart.I'm out when we hit 25 again.
Of course. You are exactly right, plea. This is the point that Mr. Chart Expert "irenderit" got 100% backwards. Downward sector rotation that incorrectly (and temporarily) drags along either the highest-quality stock in the group or the least pure-play (whichever you consider ORI to be) is a classic buy signal, not sell. But you can only recognize that if you actually know something about the stock you're investing in. Our Chart friend used a lot of what I'm sure he thought was oh-so-sophisticated chart reading to cover up the fact that he's just another sheep who got frightened by an itty-bitty decline and paid the consequences for it.
Of course the title insurance business has "peaked" in a cyclical way. You don't need the market to tell you that. So why be a slave to the market?
BTW since you're a trader, what's your attraction to this? Where's the big short-term upside you presumably came in to try to grab? Even I wouldn't claim that. Is it something related to the stock split, which by now is really far off in the rear-view mirror? On the whole risk/reward thing, your whole mindset seems to be all this risk and very little reward -- that doesn't seem like a lot of fun. I'm serious, why are you even bothering with Old Republic International? Wouldn't Lucent and Nortel be more your speed?
OUT @ 24.45.I have $300K invested, most long-term and well-diversified.If you can't see how strong this market is and ORI is going down, thats your problem.I stand corrected:bouncing on 100 DMA>.Bought APA, CPN, DHI @ 30 this week, and I work for homebuilders.A break below the 50DMA is a red flag, IMO.see ya.