You are currently browsing the The MPT Rating weblog archives for June, 2008.
23. June 2008 by admin.
Monday,
The Markets closed little changed today after Friday’s big sell off as investors are less than motivated with the Wednesday Fed meeting this week…
The DJIA; lost less than one point for the day but this is no time to anticipate anything spectacular tomorrow… the markets are simply in a rut with negative market sentiment the norm for the average investor, regardless of the oversold prices; that is a mistake in my opinion. The RSI indicator for the DJIA is now at 31.92, clearly oversold unless you are betting on a major economic melt down which we are not.
The NASDAQ; fell 20 points today, but as we have consistently warned with this average the selling is not over yet… The RSI indicator currently trades at 41.25 and that’s not enough to justify strong buying in my opinion. I look for more selling here. The gaps on this chart will be filled and until they are there is no reason to start heavy buying here.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today came in at (03) and this shows an anticipated continuation of selling by “Smart Investors” waiting for the bottom to add to their positions… This is a consistent bearish reading I would not fight unless you have the strength to hold through it, and then only if you are buying quality stocks.
As always I recommend investors and traders, be smart, patient, and ever successful.
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20. June 2008 by admin.
Friday,
The markets prepare for a rough week ahead as economic news will be a big focus of the week ahead with the FED meeeting on Wednesday this could be a wild ride next week.
The DJIA; lost 220 points and now trades near the March lows with an oversold RSI indicator at 31 but this time the credit crises is not in full swing… I anticipate a bounce in the near future.
The NASDAQ; fell 55 points today, but as we have consistently warned with this average the selling is not over yet… The RSI indicator currently trades at 43 and that’s not enough to justify strong buying in my opinion. I look for more selling here.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today came in at (03) and this shows an anticipated continuation of selling by “Smart Investors” waiting for the bottom to add to their positions.
As always I recommend investors and traders, be smart, patient, and ever successful.
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19. June 2008 by admin.
Thursday,
The markets form another one day reversal signal which could carry over into Friday’s close…
The DJIA; gained 34 points by the close forming another bullish Doji (reversal) signal as it trades at support on heavily oversold technical conditions likely to provide support and reason to bounce in the near future. The RSI indicator is currently “oversold” at 37.19… all eyes should be on the bullish MACD crossover to come.
The NASDAQ; gained 32 points for the day on strong volume, also forming a bullish reversal signal and continuation signal for the day. The trend for this average shows a bounce higher is possible, but we continue to show multiple gaps on this chart which will need to be filled and that requires further selling at some point which will bring this average lower. The RSI indicator is currently “fair valued” at 50.45.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today came in at (03) and this shows “Smart Money” was not the driving force behind today’s rally… We have seen several points where Smart Money has been buying this pullback but today was not bough up with any conviction by Smart Money…
As always I recommend investors and traders, be smart, patient, and ever successful.
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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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17. June 2008 by admin.
Tuesday,
The market sells off a little more as investors digest the reality that stocks are becoming oversold but summer months provide little reason to rally…
The DJIA; lost 108 points for the day and show the test of our low to be on the agenda, but these day to day market fluctuations don’t mean jack in the big picture. The market rallied to a short-term overbought point and as projected is now pulling back… How low will it pullback? That is the wrong question. How low must it pullback before we find quality buy points is the right question, and we already have several – It’s time to start buying this pullback against short-term market sentiment.
The NASDAQ; lost 17 points for the day but as I have mentioned for this market, I see need of further selling before these gaps get filled on the chart and until that happens I see no reason to load the boat with tech.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market came in at (03) and this bearish indicator confirms smart money is being patient in this market, and maintaining their buying to select securities with a “sleeper” mentality… Summer and spring are two different market types and you have to know how to play each.
As always I recommend investors and traders, be smart, patient, and ever successful.
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