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  • Proprietary Strategy Success: Stocks Sell Off Master Level SPY $144.00 0 comments
    Dec 13, 2012 1:27 PM

    One month ago the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) was trading at $134.75. Panic was rampant in the media as stocks like Apple Inc. (NASDAQ:AAPL) collapsed lower. The media and analysts on CNBC advised investors to run for the hills as the fiscal cliff loomed large.

    I sat looking at the charts, watching the S&P 500, NASDAQ and Dow Jones Industrial Average. I could not see the markets going lower. The charts just did not confirm what the media and analysts were saying. I used the PPT Methodology, a proprietary strategy developed over the last decade to analyze the charts. Once again, I saw upside in the charts, not downside. The calculations were showing a move on the SPY to $144.00. Wow. A $10.00 move on the SPY to the upside while everyone was ready to jump off a cliff.

    I advised my members inside the Research Center to start buying stocks. Trade alerts went out to buy Chevron Corporation(NYSE:CVX), International Business Machines Corp. (NYSE:IBM) and other large caps. Within days, the market was soaring higher and within the last few days, the market hit the SPY target of $144.00. Profits were taken.

    Once this target was achieved, I started to warn of downside. The PPT Methodology, this proprietary strategy that I had spent so much time developing was giving a sell signal. "Be ready for a pull back today", I warned members. Sure enough, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is trading at $142.61, -0.93 (-0.65%).

    Going forward into the end of the year, look for a little more downside but not the same type of flush we saw a month ago. Small shorts can be taken (I have already). Once the fiscal cliff issue has been resolved, the markets will see a near term pop which can be faded. Further downside is likely after.

    Gareth Soloway
    InTheMoneyStocks

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  • And he just closed out another one, $DUST for +7.55% in the Research Center... inthemoneystocks.com/investor.
    5 days ago
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