Green. After 10 out of the past 11 sessions ended in red,
green was certainly a welcome color for the stock market yesterday. And more
importantly, it wasn’t just a little green, either. It was a lot.
The S&P 500 bounced off of support at 1,018 on Tuesday
and vaulted all the way through resistance at 1,050 to close at 1,062
More importantly, yesterday’s explosive rally came on no
significant news and with no pre-market futures ramp. In other words, we may
have just seen an important shift in sentiment based on stock valuations.
After all, we haven’t seen any significant profit warnings
for 2Q earnings. And yesterday’s positive earnings announcement from
bodes well for financial stocks. A good rally needs to have the financials
out in front.
The stocks I’ve
mentioned in Daily Profit recently have all made nice moves
higher. Citigroup (NYSE:C) is back to pushing $4 a share. Maguire Properties
(NYSE:MPG) has recovered from a low of $2.60 on Tuesday to $2.80 today. And
JP Morgan (NYSE:JPM) has added around 10%.
Bank analyst Richard Bove is out with a price target for
Citi of $8.50. Of course, he thinks it may take a couple years to get there.
I think $4.50 by the time it announces earnings next Friday is doable.
Over the last three
weeks, TradeMaster Daily Stock
Alerts’ Jason Cimpl
has led his readers to gains of 37%, 13%, 14%, 7% and
another 13% winner.
Jason is a master at finding stocks that are on the verge of
making powerful short-term price movements. And he’s routinely turning those
moves into profits for his readers.
Now, Jason is revealing his most closely guarded trading
secrets in a special 5-part video instructional series called TradeMaster Boot Camp.
In this video series, Jason will show you exactly how he
uncovers explosive price movements, and turns them into reliable profits for
Whether you’re a short-term trader, a long term investor or
even an investment novice, you’ll gain important insight into the stock
And the best part is, you can learn Jason’s secrets in
Camp for free. That’s right, just click this link, enter
your email address, and I’ll deliver the first installment of TradeMaster Boot Camp
Not only that, but when you sign up for TradeMaster Boot Camp,
you’ll also start receiving Jason’s new e-letter TradeMaster
Market Forecast. TradeMaster Market
Forecast will be delivered daily, after the close. Jason will
review the day’s action and take a look at what the next day will bring. And
yes, he does include stock recommendations. With TradeMaster
Market Forecast, you’ll have the perfect compliment to
As always, thanks
for all of your comments, and please keep them coming:[email protected]ch.com