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.”

Sunday, February 3, 2008

Weekly Update

This is one hell of a correction or the beginning of the next Bear Market. The WARNING SIGNS showed up some time ago. The reverse H&S pattern target was hit in October '07 on the WEEKLY CHART . But if you look at the bounce off the the 38% retracement line and the bounce off the lower bollinger band on the MONTHLY CHART you would think this is only a correction. I'm treating this as a bear market beginning due to the fact the charts tell me to. I've been somewhat defensive since July 2007 and the repositioning helped. My retirement fund is up for the year and so far I'm beating the S&P500 by about 6%. Carl Swenlin has some interesting comments on the markets in his latest interview. Enjoy the Super Bowl and have a great week.

Labels: candlestick charts, sp500, Super Bowl, technical analysis

# posted by Chris @ 12:46 AM

Comments:

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# posted by

Anonymous : February 3, 2008 at 5:45 PM

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