I mentioned ORCL, Oracle Corp., about 2 weeks ago when I pointed out the stock chart breakout. ORCL is moving big after hours today. Oracle Corp. said Tuesday its first-quarter profit jumped 29 percent, easily exceeding expectations on record sales across most business lines and geographic regions.
Health Insurance Reform Legislation or the Affordable Care Act provides a comprehensive set of mandates that ensure consumer protection and quality health care services. Healthcare.gov offers a full version of affordable health care act, which includes ten titled provisions of consumer protection and insurance fraud and prevention. Title I of the Affordable care act prohibits health care providers from limiting services to children with preexisting health conditions. Health care administration companies cannot set lifetime limits on coverage, or restrict patients’ use of annual limits. Consumers now have the right to argue health insurance decisions on covered services too.
The law requires consumers to purchase health insurance while providing tax credits for this purchase. The Affordable Health Care Act provides access to insurance for households within poverty income guidelines but who are ineligible for Medicaid. These households will receive basic health insurance services through the Medicare basic system and purchase this policy on a sliding fee scale.
Title II and III of the Health Insurance Reform Act decreases hardship to state Medicaid programs. The federal government will provide funding for these programs. Similarly, seniors and disabled persons who paid out of pocket expenses for medications not covered by Medicaid or Medicare will receive financial relief. This same law also provides financial assistance to hospitals forced to provide emergency services to uninsured consumers. The mandate, however, encourages that hospitals enroll consumers in existing Medicare basic health insurance systems to avoid further misuse of the system.
Title IV and Title V requires hiring and supervision of professionally trained medical personnel, develops mandates for training facilities, hospitals and nursing homes to ensure quality care. While Title VI ensures that Medicaid and Medicare payments to providers are reviewed for fraud, waste and abuse. The law provides fraud prevention by giving lawmakers 90 days to review medical claims, track payments, and insure the validity of service and payments.
Title VII encourages the study, development and use of Innovative Medical Therapies, as well as the improvement of current and past prescription medications, according to Health Care.gov. Title VIII ensures financial support for persons with limited functioning ability. Those persons in assisted group home or independent living facilities will receive government assistance to gain or maintain those services. Title IX determines guidelines for medical and prescription costs, allows employees access to flexible spending and cafeteria plans. Title X of the Affordable Care Act reviews health insurance companies. Each insurer must provide annual reports regarding revenue from premiums, claim payments, report non-claim costs and premium increases and justifications for those fees and costs. Additionally, it requires providers and insurers to provide fair market standard fee scales for all services and charges.
ISIG, Insignia Systems Inc., looks like a really strong stock with a lot of buying pressure. ISIG showed up on my momentum stock screener, which has turned out hot stocks in the past.
Insignia Systems, Inc. engages in the development and marketing of in-store advertising products, programs, and services to retailers and consumer packaged goods manufacturers in the United States and internationally.
Today, ISIG broke out of an ascending triangle stock chart pattern on strong volume. I will be keeping this stock on my watchlist tomorrow and next week for swing trade opportunities. “Buy high and seller higher.”
MIG, Meadowbrook Insurance Group Inc., showed up on my momentum stock scanner. This is the same stock screen that detected hot picks like MNCS, OGE, HSR.
Keep an eye on MIG stock for a potential breakout above the top resistance.
UPDATE (9/14/06): MIG is continuing to form lower highs and higher lows in a symmetrical triangle stock chart pattern.
ENER, Energy Conversion Devices, Inc., was a big mover in the markets today, gapping up over a historical resistance trendline.
The company, which makes solar panels and rechargeable batteries, sharply narrowed its fourth-quarter loss amid stronger solar sales.
Today’s trading stalled at a resistance, but I am looking for a potential breakout above this price as a bullish signal. Keep in mind that until ENER stock breaks out, it is still trapped in a sideways consolidatory trading range.
BT, BT Group plc, has broken out to new highs on the stock chart. I like the big volume on today’s gap up.
BT Group plc, through its subsidiaries, provides communications solutions and services to business, residential, and wholesale customers in Europe, the Americas, and the Asia-Pacific. It principally offers networked IT services; local, national, and international telecommunications services; and broadband and Internet products and services.
The team at High Chart Patterns, a stock picks newsletter, wrote in with this article on trading.
“We have written extensively on what we believe traders should do in order to become successful. Today we are going to focus exclusively on what you should NOT do.
1. Join a Chat room: We are strong advocates AGAINST chat rooms. Why? Because it’s a distraction. In order to become a successful trader you must treat it as a business, not as a hobby. The typical chat room filled with hundreds of traders with different styles calling out trades every two seconds are not conducive to making money. But, you ask, what about the idea, the more eyes the better? Our answer, don’t be so lazy! Do the homework the night before, set up your own stock lists, and focus on those stocks instead of waiting for some guy living in his parent’s basement (no offense to anyone living in their parent’s basement) to call out a possible trade for you. If you pick out the cleanest charts every night, then most likely you will have plenty of work ahead of you the next day. You might miss some moves, but the point of trading is not to be involved in every great stock move, but rather to grind out a profit in a consistent manner. However, we do like the idea of trading buddies — for example, 3-5 people who trade in a similar fashion as you. That is an asset. Chat rooms are not.
2. Overtrade: Over-trading is possibly the single biggest mistake that traders make, hopping from one trade to another like a bunny rabbit, without waiting for the initial trade to work itself out. There must be a reason for every single trade. Become spiritual about it: every trade is sacred. Treat every trade as a business-man (or woman) would a business transaction. To relate this to the previous point, chat rooms naturally cause one to over-trade as one is anxious to be involved in multiple calls. Do not be greedy — wait for the set-up, if the conditions you seek are fulfilled, pull the trigger, and then wait for the trade to develop, be it in a stop-loss or in a profit.
Always try to make today your best day by being faithful to your system, your rules, and more than anything else, dedicate yourself wholly to a trading regime at the Altar of Discipline. Discipline is the thin blue line between making it, and blowing it.”
OCN – OCWEN FINANCIAL CORP
HCR – MANOR CARE INC
IHR – Interstate Hotels
MNCS – Manchester Inc
MIG – MEADOWBROOK INS GROUP
LHCG – LHC GROUP INC
FTD – FTD GROUP INC
These stocks are from my uptrend filter. For the last couple months, these stocks have been going up while the market has been going down. A lot of the stocks on this list have been highlighted on thebulltrader.com in the past.
