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MasterCard Incorporated Message Board

  • notaclonenot notaclonenot Jun 26, 2008 5:58 PM Flag

    BEWARE! Classic Head-and-Shoulders TOP forming

    The "head-and-shoulders" pattern is one of the most reliable trend-reversal patterns.
    HEAD was formed at around $320
    NECKLINE is at around $270
    If the price can't hold the $250 level, then we may see $220-$230 tested.
    MM will try to move the price higher tomorrow but DON'T FALL FOR A BEAR TRAP AGAIN! (Like the one that occured yesterday 6/25)

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    • OK, we may take a little brither here.
      Some support at $250-$252 and possible bounce from here.
      See my original post for an overview.

    • Excellent call. I saw the same thing and came to the same conclusion on the www.barchart.com chart.

    • Absolutely! Anything can happen.
      Plus, different people can look at the same event and interpret it diffrently, thus changing the supply/demand equation and that's what makes the markets.

    • Is there a possibility that the ECB will NOT raise rate on Thursday and the unemployment rate stay the same? Well, I like to be optimistic....

    • One more stop down. Already bought 10 contact put.

    • You're absolutely right the payroll numbers will be big news as well, but given where the US $ is trading present and its inverse relationship with oil & interest rates I'm afraid the media will make more hay out of the ECB's decision to raise rates...assuming it actually happens.

      Having said that however, if the payroll numbers coming soft as well, which is a strong possibility...well friends what can I say, but hold on to your Depends Adult Diapers because things are going to get messy!

    • Yeah, and the fact that it's only one day before the 4th should make it even more interesting... Might even get to see the fireworks display a day early. LoL!

      Bottom-line, I just don't trust the ECB and Trishet...I don't even think Bernanke is on his Fav 5 list anymore.

    • I agree with you Kisa, however I've learned years ago that you can't fight the trend and for now the trend is still pointing to further downside. So, let's be patient and wait to see what's going to happen in the next few days...Thursday in particular. Right now, I just don't see a reason to own MA...at least not yet. Plenty of time left before earnings, plus this market just doesn't seem it wants to go back up yet even with oil slightly off its recent highs. But we'll see.

    • buylow,
      I totally have to agree.
      It's a head and shoulders failure.
      Sometimes they can bounce back below the neckline but this one is not.
      I called a bottom near the 250s.
      Looking at the charts and moving day avgs. am I right?

      I waited a bit added some on the way down in case of a bounce. Got it today and sold some. Now gonna wait a few more days until I start added. It depends on how fast it goes down.
      I still have some shares and options.
      This take down is such BS.
      It's happened before. That was last year during the summer after it reported.
      Then the October earnings came out. I got in and made 5X my money. I should have stayed for another day. I could have made 10X. I've been in MA ever since. I called each bottom since then on the dot.

      The same could happen again. Expectations must be very low. Why else would people not believe in this stock and let it fall so much?

    • I agree but the pattern often takes time to completely fulfill . the pattern is clear on the daily chart, but the weekly chart doesn't have that pattern.

      This thing will fall hard, but patience is required.

      It may not be ready.....

      • 2 Replies to shebarambomom
      • That's correct, no one can predict the timing.
        However, other indicators (RSI moved below 50, money flow went negative, etc.) suggest that the move may be imminent, within 5 or so trading sessions.
        The weekly chart looks even more ominous, unless there is a bounce from here.
        Good luck to everyone one.
        Have a good weekend.

      • Next week will provide the catalyst; Jean-Claude Triche - the ECB President will raise rates on Thursday...probably the first of what most now believe will be 3 rate hikes stretching between now and next March and that will cause oil to spike over $150 and the US$ to implode. In fact, don't be surprised if you see oil start to move even higher next week leading up into the ECB decision on Thursday, and we all know what that will do to the market if that happens, right?

        Get ready to say HELLO DOW 11000 next week and below if my prediction pans out--which is almost a certainty now unless Triche has a heart attack this weekend. CIA, are you listening???

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