WATCH OUT FOR CRAMER---he is an indicator of a blow-off top---no real news here, and no real news to account for pushing the credit cards, especially when they are "tightening credit card limits" and increasing rates.
Consumers are now "tightening" their belts, as we will see this summer with less consumer trips, less traveling, less everything.
Remember, CNBC wants you to believe you are missing out on this rally. CNBC wants you to think your friends got in on this March rally---most didn't. Most bailed just like you!
So, the risk is NOT worth it that may end up popping, or blowing off a top in this markeet.
LOOK OUT is all I have to say. LOOK OUT and keep tight stops. CNBC is NOT your friend. They make you feel guilty climbing THEIR proverbial "wall of worry".
We should all just turn off our computers, put our "alerts" on in case of a sell-off. Otherwise, the Market Makers will just bleed us to death this summer, the you know whats!
1st of all Visa has nothing to do with tightening credit card limits or increasing rates. Visa does not issue credit, take the Visa card out of you wallet & look at it, you will see the bank that issues the credit; it may be Citi or Bac or what ever. The bank takes the credit risks & therefore they charge interest to make money from that risk; as far as Visa, they make money from the transaction fee’s & they get a % cut of the $ amount of the transaction. The more you swipe the more they make. Also don’t forget about debit cards, they get transaction fees from that also. Visa is purely a play on going away from paying in cash or checks to paying with plastic.