Priceless?

By Steve Abraham on Aug 07, 2007

Im talking again about Mastercard (MA). I recommended MA here on the bulltrader a few months back at around 109. I like it here again around $144. The stock ran up to around $170 before its earnings were released. Earnings were good but the stock came up againt the sell-the-news-mentality and the whole mortgage, subprime mess. Yesterday, the stock reversed after hitting $125. Today, the stock followed up yesterdays gains, closing up about 5% on heavy volume despite no help from the Fed’s statement. I think MA can be bought on any pullback with a stop price around $122-$123. I think MA is a core growth stock than can reach $175 after christmas holidays.

Shorting the MOMO `s = Priceless I am picking up VLO right now for a longer ...

This entry was posted on Tuesday, August 7th, 2007 at 3:25 pm and is filed under Stock Charts. You can skip to the end and leave a response. Pinging is currently not allowed.

3 Responses to “Priceless?”

By My Trader's Journal on August 8th, 2007 at 1:37 pm

I think you are right on this one. On a simple view of the trend line of higher lows since November, MA just bounced off it again right at the same point of the reversal you pointed out.

By Elizabeth Pogue on December 24th, 2007 at 2:23 pm

I’m not sure what the deal is with Mastercard. They dropped even durring the Summer Clothes shopping boom. I’m just thankful that Wizetrade, kept me from buy this stock.

By Patrick Louis on January 5th, 2008 at 1:51 pm

Ok, so if you bought this stock at its peak, you now have to wait for it to go up 50 points to break even again. Let me look at the wizetrade charts.