Monday, June 23, 2008
RedDirt's Weekly Update
The DecisionMoose stays in $CASH another week. By reading the MooseCall the past couple of weeks it sounds like Bill is being bombarded with e-mails about adding another asset class to the program. Everybody always wants to hold some position in the market. Why is it traders can't realize that being flat the market is a "position". Mr. Dirlam I don't know if you read this blog, but here's a toast to you for sticking by your guns.
The updated GarpScan can be seen by clicking HERE. Twenty stocks made the cut. I haven't had time to analyze the list yet to see what's new on the list or what has dropped out. My first glance of the list 3 stocks really popped out to me. It was like a BricTrade jumped off the page and hit me in the face. WBD is a Russia trade, SAY is a India trade and STP is a China trade. The only thing that didn't stick out to me was a Brazil trade. I'm sure it's probably there I just haven't discovered it yet.
Speaking of BricTrade. Chart #38 on my list, as you all know, is one of my favorites. As I mentioned in Friday's BricTrade Update this is only the 6th time in the past 5 years that the %K and the %D have fell below the 20 line for the Stochastic indicator on the $HKO chart. The only Bullish divergence that I'm seeing is the $HKO couldn't manage to make a lower low even though the EEB did. Could this be a good sign? Like I said in Friday's post,"I'd rather catch the caboose than get ran over by the engine, when this train finally leaves the station."
Thanks for stopping by to see what old RedDirt has been up to and good luck with all your trades.
Labels: BRIC ETF's, decisionmoose, garp stocks, RedDirts BRIC Trade, technical analysis, weekly update
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