Bull and Meire,
You may be correct, however, my problem is that I suck at timing a trade. I have missed many runs and pullbacks by trading rather than investing. I am tempted to take some profits here but I am still on the fence. I don't want to miss the next run and I do think it is coming.
Good luck to you both!
I actually think that, once the dust settles, V may trade higher as traders anticipate at least some softening of the debit card fee reduction. Remember, the Durbin provision actually doesn't set the fee limit. That's the Fed's decision. And that yesterday's news is a very clear sign that the Fed is questioning its proposed limit. As banks and credit unions are fiercely lobbying and the adverse effect of the limit (such as other higher bank fees and discontinuation of reward programs) emerges, the expectation that the Fed would deem the original 75% reduction too draconian is likely to grow, and that could move the stock higher. After all, low 70's probably more than prices in the worst case scenario anyway.