Opening a Mastercard Call $220 Position
Wednesday, February 24th, 2010One of my stocks in my portfolio have been taking a hit since reporting earnings, that is MASTERCARD ( MA ). However, that’s not going to stop me from making money in the meantime. Today, I decided to pull the trigger on some March contracts, the $220 Call @$5.60. Why? 1.Technicals, look at the chart and you will see the signals on the RSI, and MACD indicators. 2. Mastercard has a support of around $217.50, so our entry level is not that compromised at all, probably a $5 or 10 down,,,vs,, $30 or 40 up risk/reward. We need this market to finish strong for the rest of the week to see our position gain some $$$. Happy trading everyone!!!
Don’t forget, you can follow my 2010 Performance where you will find all of my individual transactions.
ABOUT THIS AUTHOR
I’ve been trading since early 1990s in the markets. After having lived through the DOT COM crash, as well as the bounce thereafter, I realized that in order to make money in the market our EXITS are far more important.
Patience + Discipline + Money Management + System = PROFIT
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