Sunday, June 15, 2008

Pockets of Strength: Visa and MasterCard

Time to buy Visa Inc (NYSE:V) and/or MasterCard Incorporated (NYSE:MA)

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There was a lot of technical damage done to the market in the past week, and I'm not sure that we've seen the bottom. However, despite all the carnage, I am sure that both Visa Inc (NYSE:V) and MasterCard Incorporated (NYSE:MA) are both in significant uptrends, as indicated by the blue line.

There are several reasons to buy either Visa or Mastercard this week:
1. They are both in uptrends
2. The financial sector is so beat up and pessimistically oversold that the conditions are there for a technical bounce.
3. They are both close to their respective trendlines, so the risk is not that bad.

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