VISA Windfall or Windbag?

[skiracer]

Trading volume appears to be slowing. Now at 104 million shares. That might signal a drop in price I hope.

--------------billy

I was just talking to my wife and was considering selling off some of our KO shares and buying V with that but KO is in a climb right now and I really do think you will see V pullback to the 50 level or lower on any more bad economic news. I would be patient.
I know that I have mentioned this before but this would be a great one for you billyjoe. NJR is new jersey natural gas. we own a pile of it and it just split again 3 for 2 which reduced the price from 49-50 level to 29 - 30 range last week. I always scrape together whatever i can to buy it when it does this. i just bought as much as i could in the 29 range last week and today it it over 32. it will go to 49-50 again within the next year or two. it does it every time and is as close to a sure thing as i know. you should take a look at it and give it some consideration. I have everything in a DRIP plan so it doesn't cost me anything to buy or sell and all the divy's get plowed back into it. it made me rich over the past 20 years or so.

[billyjoe]

Ski,
Thanks for the NJR info. I see it is undervalued and pays a nice div. The 10 year chart is awesome. Not a real exciting stock but who needs excitement. In another 10 years think of the people kicking themselves for not buying. I know you mentioned it a few months ago and I now regret not having bought it then. It's hard to go against buying gas of any kind. Thanks again.

-----------billy

[skiracer]

Ski,
Thanks for the NJR info. I see it is undervalued and pays a nice div. The 10 year chart is awesome. Not a real exciting stock but who needs excitement. In another 10 years think of the people kicking themselves for not buying. I know you mentioned it a few months ago and I now regret not having bought it then. It's hard to go against buying gas of any kind. Thanks again.

-----------billy

i know the stock well and it is the major gas player here in nj. biggest supplier and property owner in the state. has service contracts with high percentage of it's accts. and controls the entire process from keeping everyone's gas furnaces running under all conditions to supplying the gas thru it's lines. it should continue to expand it's acct base and to grow the business for another couple of decades or so and then still have a strong acct sales once the space gets all used up and no new homes. no excitement at all but steady appreciation and increasing divy's.
it's my largest position in our retirement acct and the one i feel the most secure with. i don't sell any of it off whereas the others i will sell at peaks to buy others at valleys and move the money around.

[IIC]

As I posted elsewhere...I bot V in the last minute at 56.62

[billyjoe]

Buying V

Now I've got a goal to beat Peter H. at 55.63 and Doug at 56.62.

-----------billy

[skiracer]

Now I've got a goal to beat Peter H. at 55.63 and Doug at 56.62.

-----------billy

be patient billyjoe. the indu closed today right near the 62.8% fib line. if it breaks that you'll get it alot cheaper. market gave back almost 66% of yesterdays gains today. if it were going to be a new uptrend today would have been nice to be a follow thru day. looks to me to be sellers selling into the strength and getting out on yesterdays gift. V needed to push thru and hold 60 with some show of strength and it wasn't able to do that. if those guys in at 44 thru 50 feel that it is weak you'll see the bottom fall out of the 50 levels. if the market continues to sell off tomorrow V the chances of V moving up aren't going to be high.

[billyjoe]

Ski,
If I got in with the big boys at 44 I'd be worrying right now about my 30% one day gift right now.

----------billy

[skiracer]

Ski,
If I got in with the big boys at 44 I'd be worrying right now about my 30% one day gift right now.

----------billy

if the markets continued down tomorrow you'll see a big drop. if i had seen a follow thru day today to continue yesterdays pop i would feel stronger about the market continuing farther up. i just don't see it and now MER is another headline news event getting ready to drop another bomb perhaps.

[IIC]

Actually I'm looking for a spike up tomorrow and either trim or bail for now...I may consider a longer term re-buy later

[skiracer]

Actually I'm looking for a spike up tomorrow and either trim or bail for now...I may consider a longer term re-buy later

anything in possible in this volitaility. i'm just basing it on if it breaks thru that fibline of support. we'll know tomorrow morning. one thing for sure is that it didn't show the strength today that many thought it would and not breaking thru 60 and holding was significant. only tomorrow will tell. i really don't think it would take much to get it rolling to the downside.
if it starts up wouldn't it be foolish to bail. why not just bring a stop up close to even and give it a chance. at least there won't be any big loss that way. although you're close to your entry right now.

[IIC]

anything in possible in this volitaility. i'm just basing it on if it breaks thru that fibline of support. we'll know tomorrow morning. one thing for sure is that it didn't show the strength today that many thought it would and not breaking thru 60 and holding was significant. only tomorrow will tell. i really don't think it would take much to get it rolling to the downside.
if it starts up wouldn't it be foolish to bail. why not just bring a stop up close to even and give it a chance. at least there won't be any big loss that way. although you're close to your entry right now.

Well...it closed at 57.39 a/h on over 725,000shs...Of course we've seen complete reversals pre-m the next day...We'll see...I'll watch it pre-m...perhaps you are right...I could always put on a trailing stop...thx

[IIC]

On another note...I know the pros already did or know what they are going to do...But Joe and Jane Average Investor may hear the news (It is all over biz radio) and figure they missed out...get in at any price at the open and then the pros leave them holding the bag after about 10-20mins...I see that happen all the time on news plays.

[skiracer]

On another note...I know the pros already did or know what they are going to do...But Joe and Jane Average Investor may hear the news (It is all over biz radio) and figure they missed out...get in at any price at the open and then the pros leave them holding the bag after about 10-20mins...I see that happen all the time on news plays.

that's why i never trade before 10 am. you sound like you're in a quandry over holding or getting out.

[IIC]

that's why i never trade before 10 am. you sound like you're in a quandry over holding or getting out.

I rarely trade before 9:50am for the same reasons...However, I had already decided to buy V near the eod if I could get it below 58 because if it gaps up at the open I'd be left w/ Joe and Jane...altho I wouldn't bite like they probably will...The only way for me to take advantage of the gap I expect was to buy at the end today...I fully intend to bail or trim most early...but your trailing stop idea is the only thing I have not decided on...I'll wait for the pre-m action to decide what I will do on that issue.

[billyjoe]

Everytime I place a limit order and it gets filled it proves to have been too high therefore my V at 55 will probably get filled and drop although the chances look slim right now.

----------billy