24. July 2008 by admin.

Thursday, July 24th, 2008; MPT Rating (01 Support)

The markets sold off heavy today, but the selling is contained to low volume and we know what that means…

The DJIA lost nearly 300 points today, down 283 points by the close, but the pullback here is anticipated as was clearly marked on our technical chart for this average, and anyone who looks at the volume indicator can clearly see this is a low volume pullback, typical of a quality buying opportunity, and we highly recommend buying quality here.

The NASDAQ lost 45 points for the day retracing to support on the middle bb line, but again the sell volume is less than the buy volume and therefore the selling is only to be reviewed as a buying opportunity… don’t let dramatic moves in the market spook you from quality stocks.  The charts tell you which stocks are worth owning and which are to be avoided.

Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market and where support/resistance is tells came in at (01) this is a support or bottom indicator telling us we have the same support levels we have been showing and this rally is not a pump and dump…  this also tells us to take the selling as a buying opportunity.

As Always; Be Smart, Be Patient, & You Will Be Successful.

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23. July 2008 by admin.

Wednesday, July 23rd, 2008; MPT Rating (02) 

Nice consolidation today with Oil falling further…

The DJIA gained another 29 points today putting in more consolidation at this level than upward advance… consolidation can last for a few days, but I would continue to bet in favor of the bulls here the DJIA has still yet to reach the upper BB line and I would look for that in the near future… the RSI Indicator is currently at 52.31 so I would be a buyer of any pullback here in quality oversold opportunities.

The NASDAQ gained 21 points for the day but also formed a weak inverted hammer on the chart so we could see more consolidation here but the gap down at about 2370 still needs to be filled and I would continue to load up on quality stocks at quality entry points in this market.

Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market and where support/resistance is tells came in at (02) which is our weakest bear reading and any short-term selling is likely to be used as a buying opportunity here.

As Always; Be Smart, Be Patient, & You Will Be Successful.

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22. July 2008 by admin.

Tuesday, July 22nd, 2008; MPT Rating (03) 

Nice market advance today breaking out of the technical down trend line on strong buy volume…  you can buy more now or wait for the following test and pullback, but either way - you should be buying this market.

The DJIA gained 135 points for the day rallying on strong buy volume as investors take advantage of oversold prices yet again and our members watch as their portfolios soar!  There will be a pullback to test the lows of this average, but that is not enough to justify selling here… Let this market peak before you take some gains, and then load the boat again in the pullback to test support.

The NASDAQ gained 24 points for the day also breaking through the down trend line, and though I have heard some provide negative analysis of the NASDAQ at this level I have to disagree as we have an ascending up trend developed by the ascending higher lows marked on the attached chart for your review which makes this a very promising rally point for the NASDAQ and stocks associated with its advance.

Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market and where support/resistance is tells us today’s rally is concentrated to key quality stocks with very little risk and though we will become top heavy and see a spike in buying, I would look for the following test of this advance to be the real buying and that is going to keep pressing markets higher until these oversold conditions are forgotten.

As Always; Be Smart, Be Patient, & You Will Be Successful.

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21. July 2008 by admin.

Monday, July 21st, 2008; MPT Rating (01 Support) 

The DJIA is basing after a three day +500 point rally last week, and Oil is up today after 4 consecutive down days…  neither the selling in the major market averages or the up tick in oil should be of any concern to anyone – this rally in stocks is not over!

The DJIA shed 29 points for the day taking a well deserved and needed consolidation day after climbing more than 500 points in 3 days signaling what might very well be the bottom of this long down trend we have been in since October of 2007…  If I am correct in this analysis (and I tend to be), we are looking at a major rally in the near future for stocks and Smart Investors are loading the boats on quality here.

The NASDAQ lost 3 points for the day also taking a nice break for the day after a major short-term jump last week taking us to the middle Bollinger Band line on our chart where we will consolidate until the next up-leg.  Any selling in quality is a buying opportunity in our opinion.

Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market and where support/resistance is tells us today’s very small amount of selling has already sell pressure and we are starting to feel support below us.  We could see another bit of selling tomorrow, but I am not betting the farm on it and in this situation the wisest call is to bet on the sure thing, not the exact timing.  I’m bullish on this market for the duration of 2008 if not longer.

As Always; Be Smart, Be Patient, & You Will Be Successful.

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18. July 2008 by admin.

Friday, July 18th, 2008; MPT Rating (02 Weak Bear) 

Oil was down for a fourth day while markets closed in split fashion, but flat on the big picture…

The DJIA gained another 49 points for the day, closing above the middle BB line on the attached chart which I would expect to continue to find support at.  I do anticipate a test of the low on the DJIA but I believe the slow stochastic indicator has more room to run and as we have yet to break out of the major down trend line we started in may, I think this rally has moor upside left in it before we test support, thus I want to be a buyer of quality here.

The NASDAQ lost 29 points for the day but a low volume pullback is showing and that is nothing but a buying opportunity.  The recent bullish crossover of the MACD indicator and the slow stochastic all tell us we have more room to advance in this rally and taking profits here may likely be a regrettable action in the big picture.

Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market and what to expect with the overall market ahead, came in at (02) and this tells us the same thing we have been seeing when the markets pullback; we have support at these levels and reason for “Smart Money” to buy up shares to further propel this market higher.

As Always; Be Smart, Be Patient, & You Will Be Successful.

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