Monday, November 06, 2006

Short MasterCard? No....

MasterCard (Ticker: MA) continues to advance strongly. It shot up another 6.70% to close at $96.30 on strong volume. Jim Cramer from The Street.com had a good explanation for this run up in MasterCard (click: here). Apparently, this is a heavily shorted stock and they made the wrong bet. The shorts are just getting their heads handed to them and they’re helping to fuel this run up. There's still more room to go on the upside...

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