We mentioned Moody’s (NYSE:MCO) and seeing it get hit after the talk of lawsuits from the Justice Department, and after its earnings announcement, it wasn’t able to bounce back as readily. It’s starting to bounce back. We’re watching, and it does appear to have found some nice support in the $45 area where it previously found support, but we are not planning an imminent trade on MCO.
There’s still enough up in the air about the potential of the lawsuit coming that we’re watching, but not taking any action on MCO just yet.
Investor Place advisors John Jagerson and S. Wade Hansen are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next trade and get 1 free month today by clicking here.