Trade Executed–Short MCO—Moody’s Co. September 24, 2009
Posted by wallstreetbuddha in Trades.Tags: MCO
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Moody’s Co, the rating company that gives the mortgage backed securities triple A ratings. In essence they gave the seal of approval on mortgages that were absolute junk. Some say, if it wasn’t for Moody’s rating, there would be no speculation in morgages, which causes speculation in real estate, which eventually lead to the tsunami of foreclosures, and on the cascade of the greatest financial crisis ever known to man. Nice one.
Wall Street will punish this stock.
As you can see MCO has been trading in a channel for quite some time. Today, it broke the support levels. Price and volume are healthy in this directional movement.
