AT&T (T) Stock

[AFPoster]

So who is buying or already bought some AT&T stock before the weekend or will be on Monday morning when the market opens. I am curious to see if their stock will rise since they have sole priority to Apple's iPhone for another 6 months.

 

[obeygiant]

I've had T for about a year now and it hasn't really done anything. Maybe a few bucks here and there but really nothing unless you're buying thousands of shares. I think Visa (V) will hit 90 again in the next 6 months, take a look.

 

[callmemike20]

As Obey said, it's really pointless unless you are buying hundreds or thousands of shares. AT&T is more of a conservative investment because of their dividends. It's not a stock you buy to make a quick buck in a few days. The stock may go up $.50 to $1.00 because of the phone, but nothing huge.

 

[Tower-Union]

Now that you mention it, AMEX, Mastercard and Visa are ALL down. . . whats up with that?

 

[obeygiant]

Now that you mention it, AMEX, Mastercard and Visa are ALL down. . . whats up with that?

Over the past few weeks, credit card stocks have been in a free fall. While much of the recent weakness can be attributed to a recent Senate vote on a proposed measure that would allow the Federal Reserve to regulate fees on credit and debit cards, in reality these stocks were already looking weak. In addition to the recent declines, some of these stocks have broken long-term support levels and are looking very unhealthy from a technical standpoint.

Bottom Line
The one thing that stands out to me in most of these charts is that even if these stocks don’t continue to free fall, enough damage has been done to them that recovery is a long time coming. Stocks need a healthy consolidation to repair the damage inflicted from these high volume sell offs. When a stock tops out and enters a correction, it traps a lot of longs who were late to the party. These longs are usually eager to sell on any bounce, making it difficult for the stock to make any appreciable advance. It takes time to flush out the weak hands and let stronger hands accumulate enough shares and suck up excess supply. That is the basic function of a consolidation and the reason it is required for a sustained advance. It appears to me that these credit card stocks need much more consolidation to flush out these weak hands. The two scenarios that could unfold is a bottom in DFS and AXP that can motivate V and MA to follow them higher, or a more prolonged correction that would likely drag AXP and DFS down with V and MA.

investopeadia

Thats a pretty good analysis but I'm more optimistic.

 

[Decrepit]

I bought a long term put on their stock, just in case something happens, and they lose exclusivity, etc.

It was cheap, and if Apple finally says you know what? Decrepit's iPhone 3GS gets no service at his new place, but his Blackberry on Sprint works great. Let's cancel AT&T, or at least add Sprint so that he can get text messages again.

If it turns out for me, great. If not, I won't be surprised.