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Tower Group International, Ltd. Has Bottomed, Bounce Likely

|Includes: Tower Group, Inc. (TWGP)

Tower Group International, Ltd. (NASDAQ:TWGP) is seeing a major volume surge. The stock hit a low of $7.99 and just jumped to a high of the day at $8.92. This massive reversal has happened over the last few minutes. The stock is down from $22.30 in the last couple months. Ultimately, this stock appears to have put in a major technical bottom. While unwise to buy it up here, look for a pull back. That will be the opportunity to go long. Anything under $8.50 looks decent. A close below $7.99 would be the stop. Cheers!

Gareth Soloway