Monday, June 29, 2009
It's coming!
Pullback to 756 on the $spx and down to 1290 for the $ndx. Just this old traders gut feelin'
Monday, June 22, 2009
Watch out below!!!
Thursday, June 18, 2009
5 out of 7
5 of 7 stocks on RedDirts latest GARP scan where up today. VIT closed up over 9%. But the one I'm impressed with is MR. Just click on the chart to the left to see why this chart has me fired up! I'll be watching the $22.80 area for a support buy on this one.
06/18/2009
Be prepared for "The Long Hot Summer." Just like the old movie history seems to repeat itself. The charts say this. NYAD says this is a start to a new bull market with the gold cross 50-200. The problem I see is the price of the weekly $spx has not yet confirmed the new bull market! Just look at the White Moving Average. On a daily time frame if 876 holds for support that's where I'll be look'in to get long again. Click the links in this post to look at the charts. I'm headed off on the Route 66 for a long week-end and my wife's family reunion. I've never lived more than a few miles from the MOTHER ROAD all of my life. So, here I go again making the TREK to the Northeast to see, once again, where I came from.
Thanks for stoppin' by to see what old RedDirt is up to.
Thanks for stoppin' by to see what old RedDirt is up to.
Wednesday, June 17, 2009
06/17/2009
Stuff to read!!!!!!
http://www.bloomberg.com/apps/news?pid=20601039&sid=a62_boqkurbI
http://astrocycle.net/Jun09.php
http://www.bloomberg.com/apps/news?pid=20601039&sid=a62_boqkurbI
http://astrocycle.net/Jun09.php
Monday, June 8, 2009
GARP Scans for June 6th, 2009
Here's my most recent GarpScan's. I'm sure most of you have never heard of GARP. That's Growth AT a Reasonable Price. I started scanning for these stocks a long time ago and have reformulated the scan to a NEW GARP SCAN that at this time only revealed 1 stock. Now this is just a starting point to find a few stocks that may out perform. Some of my past finds worked well for some big gains on intermediate trades of a few weeks to a few months. I'll watch these list and try to time the market by watching the big trends in the $NDX and $SPX then look for a good entry point in a stock from the list's. Here are some screen captures of both list. I'll build a list of free stockcharts and try to keep up with it here on RedDirtTrader. Follow along and look for some good paper trades if you are just learning about charts. Thanks for stopping by to see what the RedDirtTrader is up to. Click on the pictures for a better view. You can access my old GARP SCANS by clicking HERE!!!!!!!Wednesday, June 3, 2009
The Chart RedDirt is Watching!
RedDirt will be watching for this chart to find support around the 250 mark! This could take some time. If I see a big break below the 250 line and then take a look at the daily $SPX and see a high volume down day with a big drop on the $NYAD it will confirm that we are on our way to forming a right shoulder in a reverse Head&Shoulder Pattern. Watch and see if we bounce off the 250 line on the $SPXA200, then look for a reversal candle such as a hammer or bullish engulfing on the daily S&P500 chart. That will tell me to get long and hope for the best. Reading charts takes time to learn, so hang in there and study all you can. Start by checking out the StockCharts ChartSchool. Be patient and read it from cover to cover. Lots of really good FREE info is stored there.
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