You are currently browsing the The MPT Rating weblog archives for the day 18. June 2008.
18. June 2008 by admin.
Wednesday,
The markets continue their sell off but the selling is more “trend” driven than justified selling in my opinion; noted by today’s activity showing many attempts to reverse course higher throughout the day.
The DJIA; lost 131 points for the day but as I have already noted the justified sell off is over in this average and the oversold signals are becoming more and more apparent. The RSI indicator is already at 35.67 (oversold) and any further selling is simply an opportunity to buy quality stocks in my opinion.
The NASDAQ; lost 28 points for the day but as I have mentioned several times for this average, we still have gaps in need of being filled on this chart and those will be filled, and thus any rally here would be suspect or short lived at least… I do look for further selling on this chart. And the S&P500 and the DJIA will likely suffer by association short-term, but buy opportunities are already present for those capable of searching out quality.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market came in at (05) and this shows “Smart Money” was buying today, and I can easily name at least two stocks I know smart money is buying now and we strongly recommend our members follow suit.
As always I recommend investors and traders, be smart, patient, and ever successful.
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