RED DIRT TRADER

This blog was designed as a place for me to store links that I find helpful. These posts are not investment advice. If you’re looking for advice call your GO BROKER. My belief is the person who cares most about my investments is ME. My hope is the readers of this blog find the sidebar links as useful sources of information while attempting to learn how to manage their own money. As for advice, my Dad gave me the best I’ve ever heard, “Never trust anyone else with your money or your woman.”

Friday, January 11, 2008

Weekly Update

This is the first week in many years the 500 has closed below the trading band. The low of this candle is your sell signal to go short and not risk anything above the top of the band. Here's the CHART . Yes, this sucks but the chart doesn't lie. It will now take a set up above the band to get me long this index. I'm looking at 1267 for a 38% retrace level on this Index.

# posted by Chris @ 9:00 PM

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