Wednesday, December 16, 2009

United Healthcare gains 17.1% in just 8 days. I wonder why?

I had to post another chart and comment on the Health Insurance companies and how far their stock price has advanced. I am not going to repeat myself here so if you want the background read the previous several posts. But in summary, United Healthcare's stock has advanced 17.1% since the company knew the Public Option was going out of the Senate Bill on Dec. 6th and then the option to have people 55 and older get a chance to buy in to the Medicare program died on Dec 14th. Can you imagine a stock gaining 17.1% in just 8 days!!!! Unbelievable! And the volume went up a factor of 2.5 times to 3 times the previous 20 days. So this move up is for real and not just a blip on the charts.

I also was keeping track of Wellpoint to see how their stock moved. Well the verdict is in, Wellpoint has gained 10.4%. Now you know how the Insurance companies view this legislation. It is a boon for them and their shareholders and it is going to hurt the average American and the country as Healthcare costs are going to rise for the country.

All I can say is that this is disgusting.

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