Archive for 11. July 2008

MPT Rating (05 Bullish)

11. July 2008 by admin.

Friday, July 11th, 2008; MPT Rating (05 Bullish) 

More huge selling met by end of day buying to halve the losses; typical as the bottom solidifies and weak investors jump ship.

 

 

The DJIA lost 128 point for the day as housing woes continue to threaten the market, but smart money is buying and as I have consistently maintained, the markets are oversold and in need of a bounce, which I believe they will get.  I would be an emotionless buyer here of strong quality stocks with an eye on the future, not the present.

 

 

The NASDAQ lost 18 points for the day following the “kicking pattern” for yet another day, and this all points to a bottom formation that the worst market threats from

IRAN to housing have yet to be able to eliminate, and this shows there is strength from buyers at these heavily oversold prices.

 

 

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 still buying strong oversold quality stocks at these reduced markets, even ahead of the weekend.

 

 

As always I recommend investors and traders, be smart, patient, and ever successful.

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