Thursday, July 31, 2008

Bookkeeping: Adding to Mastercard (MA)

Posted by TraderMark at 10:13 AM TweetThis
Got my wish for some weakness in Mastercard (MA) stock post earnings, so added some this morning in the $240s. I haven't had time to look at the earnings but whatever the fuss is (I am sure it's a "slowdown" of one sort or another) I am ok with for the long term. I am not adding a ton here because this was a gap down in the chart, and there is better support in the $220s, but since we cut this name back sharply from our portfolio I'm willing to begin to layer back in with today's 10%ish haircut. We bought in the mid to low $240s and have taken our stake up from 0.8% to 1.4%.

I'll edit this post later in the day with some earnings commentary. But essentially everything I said for Visa (V) last night applies to Mastercard (MA).

Long Mastercard in fund; no personal position


Posted by TraderMark at 10:13 AM Comments (3) | Edit This Post | Create A New Post

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3 comments:

Q said...

Good Morning,

Ahh back in the crazy market that has no memory from one day to the next.

For those in SRS or negative on the economy there maybe an interesting tell to changing market conditions.

Such is the case for CB Richard Ellis Group (CBG), a worldwide leader in commercial real estate advisory services.

CB Richard Ellis' had a bad miss and was that the first-quarter 2008 weakness, which was then restricted to the U.S. commercial real estate market, is now spreading across all the company's geographic regions.

There are growing concerns of a weakening non-residential real estate market, loan losses in this market could be the next banking shoe to drop. Keeping an eye on this.

July 31, 2008 10:24 AM  
TraderMark said...

Q you nailed it. Kass is on this one as well. Canary in coal mine. We always have said banks first, commercial real estate 2nd.

It wont be as bad as residential real estate but the commercial real estate is immune theory is a joke.

What concerned me about CBG is the weakness is global. That is sort of frightening.

Regional banks will be taking a bath on the commercial loans

After the current Kool Aid passes that is.

July 31, 2008 11:00 AM  
jegan said...

I've been in and out of SRS and SKF. But, neither really seems to respond in any logical fashion lately. I think everyone **feels** that the financials have bottomed and therefore everything is right with the world of real-estate.

At present, I've got both SKF and SRS on a buy trigger if the +DMI crosses above the -DMI on an hourly basis and exit on the round trip with a 3% stop from the Entrypoint. Unfortunately, I'm using TDAmeritrades's StategyDesk and it's kind of a crippled toy.

At any rate, yesterday's weird market with oil up and market up just goes to show how schizo' everything is. Maybe we really are consolidating into a bottom.

jegan ;-)

July 31, 2008 2:17 PM  

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