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inthemoneystock (< 20)

I Smell A Stock Market Bounce: Here Is Why



June 06, 2013 – Comments (8) | RELATED TICKERS: CVX , SPY , QQQ

The Yen is ripping higher as panic spreads through Japan. Fear is spreading in the stock market with stocks like Chevron Corporation (NYSE:CVX) taking a pounding. Fears that the Federal Reserve will pull back on quantitative easing are everywhere yet the stock market is barely negative today. I smell a stock market bounce on the horizon. While short lived, the bias has to be for a bounce. Let me explain.

1. As explained above, the markets are holding up extremely well. This tells us of underlying buying on very solid volume today. There is institutional buying as retail is selling here. That is the reason why we have such big volume on the day but barely any downside.

2. Almost every index is trading into major support. For example, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) hit the 50 moving average on the daily chart.  In addition, the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) is kissing the 50 moving average and a major gap fill on the daily chart.

While the markets may stay neutral to weaker today, these key factors tell us a bounce is nearing.

Gareth Soloway

8 Comments – Post Your Own

#1) On June 06, 2013 at 3:20 PM, L0RDZ (90.30) wrote:

Fear is  spreading ???  yeah okay ?

stocks  like  chevron  have  done amazingly  well  much better than  say  gm  since  gm  was  reintroduced since  nov 2010.

Is all  you do is look  at  50 day or  so moving  averages and put togerther nonsensical  basic  statements  like  fear  that  the fed will  ease back  on QE  or  is it the fact  that  shorts will  have  to get covered  as the market recovers.

The bounce isn't nearing its already happening...

Does anyone subscribe  to these fools ?

Just yesterday your  boy  was bragging  about making money shorting...

I smell  a  rat.

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#2) On June 06, 2013 at 3:58 PM, L0RDZ (90.30) wrote:

Market is  strong....


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#3) On June 06, 2013 at 5:53 PM, jiltin (46.04) wrote:

soon fait accompli

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#4) On June 06, 2013 at 6:21 PM, awallejr (34.04) wrote:

Lol.  So yesterday you were shorting and profits were flowing, and today you are calling for a bounce AFTER the bounce happened?

Actually the market turned after it corrected over 5%.

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#5) On June 07, 2013 at 10:33 AM, L0RDZ (90.30) wrote:

Awall  tommorrow  look  for   out of  the money  to  predict  correctly  the  rising  and  setting  of  the  sun...

But  don't  look  for  them to make any  stock  picks on  caps.

Why ? 

LOL  I  know... why...  do  you ?

Can't  wait  to  read  the next  post...

I  could  use a  good laugh.


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#6) On June 07, 2013 at 11:28 AM, Valyooo (34.75) wrote:

Eh, I get the flak you guys give him, but he does make some decent calls

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#7) On June 07, 2013 at 12:34 PM, L0RDZ (90.30) wrote:

I  think  the  following cut  and  paste straight  from  TMF  says  it best  as  to  what is a  decent  call ?

inthemoneystock's Stock Picks

inthemoneystock has no stock picks.

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#8) On June 07, 2013 at 12:42 PM, L0RDZ (90.30) wrote:

4 years

inthemoneystock1,657< 20o

over  1600  posts   no  score  ever...     basically  1657  advertisements  for   their  service.

I'm sorry  but  in my  opinion  if  you're  not  gonna bother  to  at least  make  some picks...  you should not be  posting..

and  bragging..   about  what  you may or may not  have  recommended  or  done  on  some  personal  site  you  are  spamming  here...

Just my  two  cents.

I'd  much  rather  have  hypnotoad  posting  all hail...  than  a bunch of  inthemoney stuff... posts  done  by  g  or  nico...

The tomatoes  are no good  they turned bad...


What are  you doin ?



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