I have been following insurer, Conseco (CNO) for a good 4 months as I looked over potential "home run" plays (or on the other hand, a strike out) and was surprised to see hedge fund megastar John Paulson swoop in for a 9.9% stake about 3 weeks ago. I've been watching the name since, and it has given back all of the huge gain it experienced when news of the Paulson investment broke. (filled the gap) There is a nice entry point here, right above a key moving average - however the company reports Wednesday which will provide the normal hectic volatility so we're most likely going to sit and wait.
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