I was looking for some kind of business in the financial markets that makes a lot of money. Then it hit me it was in my hand the whole time,a credit card. I use my MasterCard all the time for basic purchases from gas stations to restaurants. They charge interest rates so high if you don’t stay on top of if you will be in dept with them your whole life. This creates a repeat customer and repeat customers is good for businesses. However I consider them the legal loan sharks. But as a investor their interest rate is the profits.
Thinking like a stock trader, I was looking at the technical charts it is a solid uptrend a few dips here and there but still going up towards the top right. This is where the roller coaster ride begins for me on the March 27th. I included this chart. Notice the home made arrows
So I got excited watching the price go down thinking its a bargain but not to get in early waiting for it to break resistance anything higher than $427. I get in on the 27TH the price goes down a little no big deal yet, no major news. The next day goes down a lot cause of bad news. There was a security breach with MasterCard. Hackers broke into one of MasterCard vendors. The roller coaster ride of loosing your money sucks,but I do not want to get off this ride yet. The next day the Government releases a report consumers are spending a lot, then price goes up for next two days and I’m smiling. But then ride changes directions again. The Government does not want to spend any money on the economy all stocks go down that day. Now the Associated Press says all credit card company has closed higher. I just want to get off the ride before my option expires this month with some profits. I can only wonder if I will be happy or sad Monday 9th.