You are currently browsing the The MPT Rating weblog archives for the day 6. June 2008.
6. June 2008 by admin.
Friday,
The DJIA sheds near 400 points in a single day as economic news of rising unemployment and soaring Oil put short-term traders on the run – but “Smart Money” is still buying.
The DJIA; lost 394 points for the day and is now well into our projected pullback point we anticipated 14 market days ago… I am still as confident today as I was then – this is a buy opportunity, don’t let the fearful wear off on you. Buy quality and lots of it at these heavily oversold prices – I promise you the ultra wealthy are.
The NASDAQ; lost 75 points today, but maintains within the unchanged trend line after finding support on the old resistance level clearly marked on our charts.
I would issue one word of caution to the emotion driven investor – if you were a bull after yesterday’s 200 point rally and the heavily oversold opportunities in the market, you should be an even bigger bull in today’s market… if you are not; you’re an emotion driven investor.
Today’s MPT (Market Power Trend) Rating, which tells us what to expect in the overall markets in the next session (short of any surprise bull or bear news) came in at (06) and this is a very strong bull indicator for us and should give pause to all who are now fear struck by the 400 point loss of today… If the market is so bad, why is “Smart Money” buying?
As always I recommend investors and traders, be smart, patient, and ever successful.
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