Visa just made a new 52 week high hitting the $80 dollar mark as I anticipated today. It has now gained enough momentum on its own to withstand MasterCard’s dip at 3PM and break to new highs. With 10 minutes left before the closing bell Visa is deviating from MA’s 1 minute chart and breaking out on it’s own.

Another Article mentioning Visa and Mastercard: HERE HERE and HERE

JRJC hit an intra-day low of $17.94 today just after noon eastern time. This completes the pull back I anticipated HERE back to $18. Reasoning can be found below:

The short: HERE
The dip/bottom put in: HERE

The easy part is now over, it corrected as anticipated after a .50 to 1.00 squeeze out of the open yesterday, after failing to break $21 three times, weakness came in and profit was taken. This doesn’t mean its bottom today at $18, as mentioned in last nights post, its consolidation time. Once it consolidates around this level watch for the break back towards $21.

WSCI had a nice correction after not making it past the $18 dollar mark. I’d expect this to consolidate around the $15-15.40 range as mentioned HERE. (I will talk about this in tonights blog)

Visa and Mastercard are not disappointing today. Visa got a boost from MA and has since gained some momentum of it’s own. Master card is almost at its $275 mark. Visa has gained momentum and is starting to take on a move of its on… it may test the $80 mark today.

MasterCard reported this morning and has dragged Visa (for now) up from last nights inability to perform after hours given decent earnings. (aka Visa will follow the success of MA) Something tells me they were less than expected… OR… the street wanted to see what MasterCard had under its belt before they dived in. I think MasterCard can carry it for another quarter before Visa really needs to become a big boy of their own and knock out street expectations by doubling profits.

Here are some entries regarding Visa and MasterCard.

Mastering The Reality, Visa Caution
Doing Well in a Downturn? Priceless
Goldman Sachs Bullish on Visa

At this point, MasterCard is at $264 premarket, in about 30 minutes the market will open and as always it should be an interesting battle between shorts and longs. This may dip to the $257-$258 (overdone) and it may spike to the $270 level immediately out of the open (which will probably be corrected back to the $265 range)

At this point shorts are already pretty well toasted so I wouldn’t be surprised to see them get toasted even more towards the $275 range.

I am only speaking on behalf of premarket results and activity, if it can consolidate in this area you will see many $300-$320 upgrades and soon enough it will be on its way there. It’s psychological. It’s probably that Visa panic sells again out of open but I wouldn’t expect that to last (as long as MasterCard holds its gains when MA has consolidated they both should break out higher).

Here are a few lower priced stocks to watch TODAY

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Visa reported … looks like its going to fill the gap tomorrow. I think a lot of people want to see how MasterCard’s earnings turn out before they are convinced.

Another article of interest regarding Mastercard and Visa HERE.

NURO a big percentage gainer for today, this may gap over $3.00. If it does watch for the squeeze over $3.25 before taking any short position. If it gaps large - this may test back to $2.50 but watch for dips because this may turn into a trades delight the next few days being in the price range that it is.

SDXC quite a gainer lately I’d like to see it test a bit higher (around the $14 level) before shorting. If it doesn’t provide a short opportunity Watch for this to consolidate in the $12.25-$12.40 range before moving towards $15.

STEC bullish pattern lately this should test $10 - that’s the next resistance if it breaks it this could turn into a multi day breakout

MRCY - up quite a bit today I don’t really like this but any squeeze out of open may provide profit potential down to $8.25.

JEF heading towards $20, if tomorrow’s out of open doesn’t test it right away this should test back down to $18 first.