Credit Card Captain Crunch

I sold my entire Visa (NYSE: V) position today for a small loss.  The recent credit crisis is making me a bit apprehensive and I especially do not like the fact that companies are pulling credit from individuals (see previous post).  This means less credit card use and less transactions which in turn equals less profit for Visa.  Global economic downturn is never a good thing.

Visa is still a great company with a decently huge competitive moat therefore I would still recommend the stock.   But I did have a little too much allocated into Visa and feel that they are much better, cheaper companies out there that are basically selling for HUGE HUGE discounts.  General Electric (NYSE: GE) at $12 was such a STEAL, but alas, I had no capital on hand to purchase it at that price.  Now THAT was frustrating!  

I'm still expecting some more bad news, so I'm keeping a keen eye out on the unemployment rate.  To me, it's a good indicator on how the economy is fairing.  If I miss out on 10-20% in overall growth, I'm fine with that since I'm still long-term in majority of my holdings.