ThinkExist Dynamic daily quotation

Sunday, March 30, 2008

 

RedDirt's Weekly Update

We are now one trading day away from the SP500 closing the month lower for the 5th consecutive time. I can't tell you when, or even if, this has ever happened before. The Weekly Chart is trying to tell me we are due for a bounce back to the 1380 area. But who knows for sure, we're in uncharted territory. Bear Market's suck for most people because they just haven't learned what to do and when to do it. A good monthly chart for most Index buy and holders is a good place to start. I can't complain, my 401k is beating the SP500 by 15 percentage points YTD. Whoever said you can't time the market is a FOOL!
The Nasdaq 100 looks to be showing signs of a pulse. Week before last the weekly chart pulled off a bullish engulfing candle. Then, this past week we traded at a higher high. That's NICE! I ran a new GARP SCAN this week and was surprised to see how many tech stocks showed up on the new list. It seems there is a pent up demand for high quality tech stocks and at the same time a decrease in supply. This could lead to a nice surprise to the upside for old name tech stocks.

This past week I finally completed the BRIC Trade Page and what a relief that was. Check it out to see the bullish divergence that has developed. I'll have to keep watching the individual Bric Country ETF's for a clear buy setup before getting involved once again.

I will continue to work on the GREEN TRADE. But for now the ETF of choice is PBW.

As for the MooseTrade. Bill says to stay cash for another week. I would recommend reading Moosecalls every time it updates for some very interesting commentary from Bill Dirlam.

Now for this weeks trading lesson. Nobody plans to fail, they just fail to PLAN!

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# posted by Chris @ 12:15 AM
Comments:
There are at least four idiots on CNBC every day giving me that same "can't time the market" spiel. Give it up already! As you and I both know, it's the Quick and the Dead out there these days. Trying to get through your charts pages more often. Very helpful, thanks for providing it.
# posted by Blogger BxCapricorn : March 30, 2008 at 11:27 AM
 
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