Wednesday, October 31, 2007
Fed Cut leads to gains into the final hour.
The 1/4 point cut in the FedFundRate and DiscountRate started a knee jerk reaction sell off that has now turned into 1.27% rally into the final hour of trading. 22 of the 24 GARP stocks are trading higher with some having gains of over 3% on the day. The trend is up, don't fight it. I've added all the 24 GARP stockcharts to my Red Dirt Trader Charts, they are the last 24 stocks on the list.
Tuesday, October 30, 2007
GARP(growth at reasonable price)
Below is a list of stocks from one of my scans(GARP). I generated this scan from the scan engine @ Scottrade. I will use this list and check for insider buying along with some other positives to narrow this list down even further. Then check the charts of those stocks to find a good entry point for a few trades.
Here is the criteria for the scan:
24 Total Company Matches
Fundamentals: PE Ratio for Next FY: 15.0x - 25.0x Fundamentals: PEG: <= 1Earnings: EPS Growth Annual CFY: 15.0% > 50.0%Earnings: EPS Growth Annual NFY: 15.0%> 50.0%Earnings: Revenue Growth Annual CFY: 15.0%> 50.0%, Earnings: Revenue Growth Annual NFY: 15.0%> 50.0%
------------------------------------------------------------------------------------------------
Symbol -Company
ABB- ABB Ltd (ADR)
AMX- America Movil S.A.B de C.V. (ADR)
AOB -American Oriental Bioengineering, Inc.
APOG -Apogee Enterprises, Inc.
ASTE- Astec Industries, Inc.
BW -Brush Engineered Material
CMRG- Casual Male Retail Group, Inc.
COH- Coach, Inc.
CBD -Companhia Brasileira de Distrib. (ADR)
DST- DST Systems, Inc.
GMXR- GMX Resources Inc.
KMGB- KMG Chemicals, Inc.
FSTR- L.B. Foster Company
MTW- Manitowoc Company, Inc.
WFR- MEMC Electronic Materials, Inc.
NOV- National-Oil...
NGS -Natural Gas Services Group, Inc.
NCIT- NCI, INC.
NIHD- NII Holdings, Inc.
RTI- RTI International Metals, Inc.
SRP -Sierra Pacific Resources
SMTS- Somanetics Corporation
SCS -Steelcase Inc.
TTEC -TeleTech Holdings, Inc.
Here is the criteria for the scan:
24 Total Company Matches
Fundamentals: PE Ratio for Next FY: 15.0x - 25.0x Fundamentals: PEG: <= 1Earnings: EPS Growth Annual CFY: 15.0% > 50.0%Earnings: EPS Growth Annual NFY: 15.0%> 50.0%Earnings: Revenue Growth Annual CFY: 15.0%> 50.0%, Earnings: Revenue Growth Annual NFY: 15.0%> 50.0%
------------------------------------------------------------------------------------------------
Symbol -Company
ABB- ABB Ltd (ADR)
AMX- America Movil S.A.B de C.V. (ADR)
AOB -American Oriental Bioengineering, Inc.
APOG -Apogee Enterprises, Inc.
ASTE- Astec Industries, Inc.
BW -Brush Engineered Material
CMRG- Casual Male Retail Group, Inc.
COH- Coach, Inc.
CBD -Companhia Brasileira de Distrib. (ADR)
DST- DST Systems, Inc.
GMXR- GMX Resources Inc.
KMGB- KMG Chemicals, Inc.
FSTR- L.B. Foster Company
MTW- Manitowoc Company, Inc.
WFR- MEMC Electronic Materials, Inc.
NOV- National-Oil...
NGS -Natural Gas Services Group, Inc.
NCIT- NCI, INC.
NIHD- NII Holdings, Inc.
RTI- RTI International Metals, Inc.
SRP -Sierra Pacific Resources
SMTS- Somanetics Corporation
SCS -Steelcase Inc.
TTEC -TeleTech Holdings, Inc.
Labels: stock scans
New Learn Something New Link
Click this LINK to subscribe to the free Chart of the Day. You can set it up to have new charts sent to you by e-mail. All the charts I've received are very informative.
Monday, October 29, 2007
DEC SP500 Futures Close above 29 Day MA
Click the Title Link Above. This is a positive sign with 2 days of follow through after the big volume day in the pit last Thursday. Also check this LINK for a look at the largest commercial net long position in three years.
Todays Market Summary
Click the title link above for todays market summary.
The Week Ahead
Lots of trading news this week. Follow this LINK for Briefing.com Economic Calendar or click on the Economic Calendar link under the Learn Something New links to the left of this page. While your over there check out some of the other links like BDI(Baltic Dry Index) or the IT Blog.
Friday, October 26, 2007
Check out this Chart
Check out this chart at Red Dirt Trader and tell me my eyes are not deceiving me. It tells me fewer and fewer stocks are participating in what ever rallies we are seeing. The last time I received a dividend check from my insurance company was just before the market top in 2000. Well, I recently received another one. Makes me wonder was it coincidence or what. I think I will move my trailing stops pretty darn tight, just in case.
Don't Be Suprised!
Don't be suprised if you see the SP500 out perform the NDX100 for awhile. A test of the breakout would not suprise me at all. It may be a good time to lighten up if you are tech heavy and look for some really over sold sectors.
Thursday, October 25, 2007
Old Resistance Becomes New Support?
Click on the orange link above for an updated 60 minute candle chart!
Wednesday, October 24, 2007
Market Stumbles, Here's the Bad News
Secret Recipe Chart
This chart is an overlay of the number of S&P500 stocks trading above their 50 day moving average(GREEN) & the number of S&P500 stocks trading above their 200 day moving average.(RED) What I have observed in this bull market is, when the $spxa50 is below 100 and the $spxa200 is below 250 it has been a good time to buy the S&P500. When I begin to see bearish divergences between the price and the indicator it has been a good time to scale back. Click on this LINK or click on the chart above for a better view. The one thing that is starting to worry me about this indicator is deeper moves downward with both the $SPXA50 and the $SPXA200 and the amount of time it takes them to recover. I'm hoping it just has something to do with a major sector rotation and not the big boy's getting prepared for the worst(Recession). Here's to hoping it keeps working because it has offered up some very nice returns in the past few years.
Labels: major indices, stockcharts, technical analysis
Thursday, October 18, 2007
Bearish Candle Pattern for Nasdaq100
Click on the image of the chart to the left to view it, or follow this link Nasdaq100 to take you to my chart book for Red Dirt Trader . If you click the Red Dirt Trader link look for chart 21. While you're there check out the 1st page of charts for the S&P500. Page 2 is all about the Nasdaq100. Page 3 and beyond takes a look at some other charts of interest. I'm trying to integrate the blog with my public chart list at Stockcharts.com to make an easy transition for my readers to follow along with what I'm seeing in the charts.
Thanks for stopping by.
Labels: bearish engulfing, major indices, Nasdaq 100, stockcharts, technical analysis
Wednesday, October 10, 2007
Visit Red Dirt Trader @ stockcharts.com
Friday, October 5, 2007
1st Post
Hello,
Welcome to my new blog. RED DIRT TRADER. My post here will deal with getting ahead of the next big move in the markets. We will study technical analysis, market moving news and the psychology of trading. Once again this is for educational purposes only and not intended as trade recommendations. My Dad told me,"Never trust anyone else with your money or your woman." That statement is what led me to learn as much as I possibly could about technical analysis. Why? Because the charts don't lie. Thanks for stopping by. Now lets go make some money.
Chris
Welcome to my new blog. RED DIRT TRADER. My post here will deal with getting ahead of the next big move in the markets. We will study technical analysis, market moving news and the psychology of trading. Once again this is for educational purposes only and not intended as trade recommendations. My Dad told me,"Never trust anyone else with your money or your woman." That statement is what led me to learn as much as I possibly could about technical analysis. Why? Because the charts don't lie. Thanks for stopping by. Now lets go make some money.
Chris
Subscribe to Posts [Atom]
Subscribe in a reader
