You are currently browsing the The MPT Rating weblog archives for the day 10. July 2008.
10. July 2008 by admin.
Thursday,
Today’s activity clearly proves yesterday’s analysis of the market was dead on… The market is “Kicking” at a bottom formation.
The DJIA gained 81 point for the day as apposed to yesterday’s loss of 236 points, but the technical story remains the same – save the obvious buying by smart money today as indicated by today’s MPT Rating. As mentioned yesterday, I would be a buyer here of quality stocks in anticipation of the upcoming bounce. The only investors and traders selling here are weak and impatient, and I see no reason to make that mistake as this is a buyer’s market with heavily oversold quality stocks on the cheap.
The NASDAQ gained 22 points for the day following the “kicking pattern” we mentioned yesterday in the markets and our stocks. Smart Money is buying and we highly recommend our members load the boats on quality oversold stocks poised to rally in the weeks ahead as second quarter earnings are anticipated to be better than first quarter.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (05). This MPT reading is bullish and tells us “Smart Money” is buying strong oversold quality stocks at these reduced markets.
As always I recommend investors and traders, be smart, patient, and ever successful.
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