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Two Ways: Unkindest Cut for Credit Cards


Strengthen your portfolio in good times and bad.

Consumer borrowing fell last month; fewer Americans used their credit cards to make purchases.

The New York Times reports consumer credit decreased at an annual rate of $7.48 billion in February, or 3.5%. This is far below Wall Street expectations of a $1 billion decline.

The report by the Federal Reserve showed that the decline was led by a drop in credit and charge cards. These figures fell at an annual rate of $7.8 billion, or 9.7%. It's the steepest percentage drop since 1978, and the largest in terms of dollars since record-keeping began in 1968.

For more on the economy, see Professor Kevin Depew's Five Things: The Commodification of Violence.

From the Bull Pen: Bulls can look to Visa (V) for a play; it broke out of a range yesterday. One can fade (read: buy) the stock into $55. For those with a riskier profile, keep an eye on Discover (DFS) with the 20-day moving average approaching the 50-day moving average.

From the Bear Cave: Bears can look to Sears Holding (SHLD). It wouldn't be surprising to see the stock near $40 in the near term. But take note of monthly same-store sales figures, which will be out on Thursday morning.

Have a great night!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.
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