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The 7% - 8% Rule Triggers On Essent Group

Strong looking breakout on Sept. 20 for Essent Group but in weak markets you have to be more careful. Today saw a drop below the 50-day moving average line. We often like to wait for the end of the week to act but that's usually when we have cushion. For Essent, if you bought over 50 on the day it broke out you were probably looking at a 7% to 8% loss. That rule trumps all.