RED DIRT TRADER: Another RedDirt GarpStocks Update

RED DIRT TRADER

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Wednesday, September 10, 2008

Another RedDirt GarpStocks Update

Amazing just how bad this market is when GOOGLE shows up on the GarpScan. Who the hell are we kidding, trying to tell the Russians to get the heck out of Georgia. Russia and Venezuela will be exercising war games near our coast come election time. Think ol' Putin hates the Republicans. RedDirt will lay 5 to 1 on the Dem's to win this election. I'd place the over&under at 54%. Take Obama in a landslide.
Enough of that political bullshit, back to what matters. Take a look at the most recent GarpScan. If you can't see the link please leave a message. This damn Mr.Softy Office 2007 has me pissed. I've had one hell of a time saving a spreadsheet has a web page and making it stick to my google pages. If anyone out there has a simple solution please pass it on to the old RedDirtTrader. I've added some links to the sidebar which shows the stocks from the last garpscan and the most recent garpscan. Whow! We can evaluate recent scans. Anyhow, I'm not saying GOOG is a buy just because it showed up on the SCAN. All that tells me is, we may be approaching some sort of a bottom. A couple of stocks that are catching my attention are IXYS and INWK. Why do I like them. 1)Price to sales below 1.5 2)Low debt to capital and 3)One is old school(INWK) and one is new(IXYS). Heathcare segment of the market has been working it's way upward in IBD. So PSYS and AFAM may have some moneyflow to push them higher. Time will tell. Anyway, finally no energy companies on the scan, so looks like their earnings downgrades are finally coming to fruition.
The CNBC fast money crew has been calling for a $VIX to hit 30 before a bottom is in. They may be right, but from what I've seen in the volume numbers the past few trading day's I doubt that will happen. Do we get a bounce here, or is this just the start of a REALLY BIG sell off. DON'T RISK ANYTHING BELOW LAST FRIDAY'S LOW!!!!!!!!!
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# posted by Chris @ 7:50 PM