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Not taking the MasterCard trade: Priceless |
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| Feb 05, 2009 06:45 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Major movement, Earnings reports, MasterCard Inc'A' (MA), Stocks to Sell, Financial Crisis This post was written by Minyanville contributor Smita Sadana. On 2/2, a trading buddy asked me if I would short MasterCard (MA); reason being that financials are looking weak and MA has reached 50-day moving average which could act as a possible resistance and might turn the stock down. My reply was a unequivocal NO, I wouldn't short MA. Here were the reasons. 1) Financials are weak, down 11% from the high; but notice that MA has not given way. Reaching 50-day moving average is another sign of strength. I don't engage in horse racing, but placing a bet that a strong horse among a group of weak horses will lose, didn't seem right to me! Continue reading Not taking the MasterCard trade: Priceless Not taking the MasterCard trade: Priceless originally appeared on BloggingStocks on Thu, 05 Feb 2009 13:45:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments
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