Credit Lines:

The BNPL names which are to some degree are supposed to disrupt traditional credit card names have been hit recently (AFRM is now 55% off highs made last November). Some names that were in the dog house such as MA and V, have come back to life with the former showing some solid action CLOSING at or well into the upper half of the WEEKLY range, and this week is up another 4% heading into Thursday. MA, off just 7% from the most recent 52-week highs, is demonstrating excellent relative strength compared to main rival V which is 13% off its annual peak. Other lesser followed names include the names we look at below with AXP DFS and COF. Leaders lead and laggards lag plain and simple. Looking at each of their actions AXP is 9% off its yearly high, DFS 11, and COF by 17%. I am not crazy about either of them on the long side but think one can short COF here with a tight stop with a CLOSE above 155. MA on a move back toward the low 360s looks intriguing too as a long.

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