I was taking a peek at purveyor of debt MasterCard, ticker MA, below is a weekly view of the stock.
A move below 317 which basically was the 08' high would signify for me that a top of some consequence may be in and game on to the downside. Please take note the large channel formed since the beginning of 09'. So now a closer look via the daily below.
We seem to be bumping up against the long term channel. here via a double top. Note the lacklustre volume as the right side of the double forms, not that volume means anything in the robotic HFT era we live in, right Duncan Niederauer?
Regardless I would like to get short some MA but will not chase it as I do not have:
1) an open credit line with the Fed and
2) an expert network I can call on for news.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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