The best scenario for the market is for it to hold yesterday's gains or to extend the gains even further. Risk reward therefore favors the bulls, as 2/3 scenarios are bullsih.
Update on VISA
A friend of mine yesterday (not a trader) told me V was going straight to 100 dollars today. It's fairly easy to gauge by these types of statements when the hype is overdone. If you look at the intraday chart, you'll notice that Visa opened up at 65 and proceeded to lose 10 dollars within an hour. Personally, I can only say that the company is fairly well valued at this price. Can it become overvalued (in otherwords, will the price go higher), it's possible, but if you've noticed recently, we aren't in that type of market right now. In addition, who is to say that MA is not overvalued in itself? Be aware of all scenarios. Overall, it was a good trade to buy MA in anticipation of Visa, but now that it's happened, it's wait and see. Don't ever discount any possible outcome (up or down).
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