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.

Tags: JRJC, WSCI

This entry was posted on Tuesday, April 29th, 2008 at 1:13 pm and is filed under NASDAQ, Plays, Recaps, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.