Comments on: Credit Cards Next Big Problem For Consumers http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/ Investing Online Made Easy Fri, 20 Nov 2009 09:55:02 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Chris http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78687 Chris Thu, 30 Oct 2008 01:53:52 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78687 The tightening of credit is going to hurt the banks, not so much the credit cards as long as transactions stay constant. Visa and Mastercard don't fund the credit but American Express does. Besides, the banks are raising rates on more than 50% of all cards, profits will rise as spending limits come down. We'll see. I am a biased Visa shareholder so count me out of this debate. The tightening of credit is going to hurt the banks, not so much the credit cards as long as transactions stay constant. Visa and Mastercard don’t fund the credit but American Express does. Besides, the banks are raising rates on more than 50% of all cards, profits will rise as spending limits come down.

We’ll see. I am a biased Visa shareholder so count me out of this debate.

]]> By: Blain Reinkensmeyer http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78662 Blain Reinkensmeyer Wed, 29 Oct 2008 22:16:01 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78662 Ya if you look at the volume even yesterday it was still pretty low comparatively speaking to other big days in the market. Doesn't the IBD not even look at the Dow Jones anymore as far as crediting for market movements since it can be so easily manipulated? NASDAQ closed just above even, and it looks like the S&P found resistance at its 20 MA. Ya if you look at the volume even yesterday it was still pretty low comparatively speaking to other big days in the market.

Doesn’t the IBD not even look at the Dow Jones anymore as far as crediting for market movements since it can be so easily manipulated?

NASDAQ closed just above even, and it looks like the S&P found resistance at its 20 MA.

]]> By: Blain Reinkensmeyer http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78659 Blain Reinkensmeyer Wed, 29 Oct 2008 22:11:11 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78659 I am with you on retracements back to the 50 MA, which almost always is the stopping point for any rally in a downtrend. I also agree that Apple is a great hold. I am a trends focused investor but if I do go long stocks like Apple and Visa will be at the top of my list. I am with you on retracements back to the 50 MA, which almost always is the stopping point for any rally in a downtrend.

I also agree that Apple is a great hold. I am a trends focused investor but if I do go long stocks like Apple and Visa will be at the top of my list.

]]> By: The Stock Speculator http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78654 The Stock Speculator Wed, 29 Oct 2008 21:34:36 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78654 btw - u need an edit function...:idea: it looks like today may have been a distribution day. If that's the case, i think there is now a minute chance that we keep the rally up. btw – u need an edit function…:idea:

it looks like today may have been a distribution day. If that’s the case, i think there is now a minute chance that we keep the rally up.

]]> By: The Stock Speculator http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78652 The Stock Speculator Wed, 29 Oct 2008 21:28:56 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78652 After the big sell off, that call does leave a bit of egg on my face. We'll come back to this in a few days and see if it was a terrific call or a horrendous one. Too soon to tell. My thoughts behind this: The 50 day is where it is, I don't make this stuff up. Sooner or later they will meet - be it at 128, 125,123...The 50 will move down or the price will move up, wherever it is will be my profit target. If we can get a sustainable rally (its a big If) that would be my play. AAPL managed to stop going down and has a ton of shorts who were betting on a Steve Jobs is going to Die tomorrow type valuation. There is a nice article on AAPL buying back shares that will help as well. You could see today that a few positive days could move this up fast - 120, 125, 128. I'm not going to argue. Whats 8 points between buddies? However, I'm still 100% in cash and won't consider going long until I see more retracement of yesterdays move. Then I will slowly leg into some stocks including AAPL. As far as crazy goes - 100% certifiable. This market has run me through... After the big sell off, that call does leave a bit of egg on my face. We’ll come back to this in a few days and see if it was a terrific call or a horrendous one. Too soon to tell.

My thoughts behind this: The 50 day is where it is, I don’t make this stuff up. Sooner or later they will meet – be it at 128, 125,123…The 50 will move down or the price will move up, wherever it is will be my profit target.

If we can get a sustainable rally (its a big If) that would be my play. AAPL managed to stop going down and has a ton of shorts who were betting on a Steve Jobs is going to Die tomorrow type valuation. There is a nice article on AAPL buying back shares that will help as well.

You could see today that a few positive days could move this up fast – 120, 125, 128. I’m not going to argue. Whats 8 points between buddies?

However, I’m still 100% in cash and won’t consider going long until I see more retracement of yesterdays move. Then I will slowly leg into some stocks including AAPL.

As far as crazy goes – 100% certifiable. This market has run me through…

]]> By: Blain Reinkensmeyer http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78649 Blain Reinkensmeyer Wed, 29 Oct 2008 20:42:53 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78649 "that’s the problem - market is so news driven. What moves us tomorrow? AAPL looks like it wants to test its 50 up at 128" No way, Apple MIGHT test $115 - $120 MAYBE but no way it breaks to $128 in the next two weeks unless this rally is good for another 15%. (just my "your crazy!" opinion since I am so bearish :grin: ). “that’s the problem – market is so news driven. What moves us tomorrow? AAPL looks like it wants to test its 50 up at 128″

No way, Apple MIGHT test $115 – $120 MAYBE but no way it breaks to $128 in the next two weeks unless this rally is good for another 15%. (just my “your crazy!” opinion since I am so bearish :grin: ).

]]> By: The Stock Speculator http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78643 The Stock Speculator Wed, 29 Oct 2008 19:36:59 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78643 that's the problem - market is so news driven. What moves us tomorrow? AAPL looks like it wants to test its 50 up at 128 that’s the problem – market is so news driven. What moves us tomorrow? AAPL looks like it wants to test its 50 up at 128

]]> By: rhinodude47 http://www.stocktradingtogo.com/2008/10/29/credit-cards-next-big-problem-for-consumers/comment-page-1/#comment-78642 rhinodude47 Wed, 29 Oct 2008 19:24:23 +0000 http://www.stocktradingtogo.com/?p=3403#comment-78642 AAPL, POT, etc. a few great stocks to be holding right now with this rally. AAPL is up because of share buyback speculation and POT alongside other commodity stocks are having a great day simply because the Fed cut rates another half point. AAPL, POT, etc. a few great stocks to be holding right now with this rally. AAPL is up because of share buyback speculation and POT alongside other commodity stocks are having a great day simply because the Fed cut rates another half point.

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