Steve's MAD MONEY appearance with Cramer

Steve has Been short V the whole way this week in the Juggernaut Room, see his notes below. Had it all morning long today for dollars....Fun Stuff...

Wed 8/9 6pm... 

Tim:

I was on Cramer’s mad money today asking about Visa, take a listen to file attached…

After reading about finreg, a bad associated press article and the BoA downgrade, hear what Cramer has to say too.  I think  70 has become resistance vs. support. 

My 90 seconds of fame…lol

68.01 is the last support level on V, then it’s done.  Look @ a daily chart and this could be a compelling argument to go short given the uncertainty caused by finreg.  The only thing working here is the midterm elections so the Obama administration may want to move fast before losing the super majority in November.  If the rules don’t get written by then, V/MA/AXP will all be in no-man’s land with nowhere to go, but down.

I love this job!

Regards,

Steven M. Cohen

Managing Director

Integrated Home Automation, Inc.