A few things I've noticed with HIG today:
1- Moderately High volume sell off, partly due to Sen. Reid comment about a "big name insurer on the verge of BK". Much speculation on whether his comment was referring to HIG or MET or another insurer. Later his statement was retracted, while both companies issued statements saying they were adequately capitalized.
2-Lots of fear in the holders/sentiment, blood in the streets with this one, could be signal of a coming reversal if fears are extinguished.
3-Technically, it looks like a bottom has yet to be made. Selling accelerated into the close and barely bounced from low of around 25.30. It's off the charts at the moment.
4-Sold off much more than industry peers, could signify something bad coming around the corner. On the other hand this might bounce much more also.
I bought some today and yesterday, as a swing trade, and honestly was got off guard when it broke the $30 level today. I really wish I started buying today instead of yesterday... This could potentially become the next AIG, but i HOPE that doesn't turn out to be the case.
