Tuesday, September 23, 2008
Timing seems to Be Right!! RedDirtUpdate
The reverse H&S pattern neckline has been tested and the pitchfork timing seems to be aligned with that retest. This would appear to be a very good long term opportunity for investors. We even got a little bit of a bargain with the S&P 500 trading below the 1176 line and making it down to the true neckline support. Click on this link to see the true reverse head and shoulder support line. I would place a target of 1950 on the S&P 500. I've not completed my timing to that target as of yet. I believe from what I've seen so far it will be sometime in 2010. This is not trade advice, it is only the observation of the RedDirtTrader.
Labels: growth stocks, sp500, stockcharts, technical analysis, trading desk, weekly update
Wednesday, August 20, 2008
RedDirts BricTrade Update
The candlestick pattern your looking at is what is known as an abandoned baby. If you click on the chart for the China ETF, symbol=FXI you will see this pattern has developed over the past three days. The pattern is confirmed by looking at the Historic Price Quotes at stockcharts.com.........I just had to make sure the shadows of the doji were totally isolated from the Monday lows and the Wednesday lows. So there it is, an abandoned baby reversal pattern. I wish my BRAIN could recall the success rate of this candle pattern. I recently read an article in S&C Magazine that gave the stats on success rates of several candle reversal patterns. Of course I can't locate the article when I need it. But, here is what I'll do. I'll buy an opening position of say 100 shares in the FXI and set a Stop-Loss Order just below the low of that abandoned baby doji. I would like to get filled somewhere below the close on Wednesday and somewhere above the top of the abandoned baby doji. So it looks as though I'll have to place a limit order to try and get filled in that space. This trade is supported by what I'm seeing in all the BRIC trade charts including the Hong Kong Option Index. ($HKO) India actually appears to be a buy at this time also. Brazil and Russia seem to have made some kind of bottom. I think within' this past week or so, there have been some agreements made among the BRIC countries and the USA. Looks as though the best trade could be long China and USA to the detriment of Brazil, Russia and India. But, as I see it, invest in growth in the US and China and look to find some sort REIT investment in Brazil. Look for an infrastructure investment in Russia to go with this trade. I think the best India trade may have something to do with technology (SAY) or I'll just buy a small portion of INP.
Labels: BRIC ETF's, candlestick charts, growth stocks, major indices, RedDirts BRIC Trade, technical analysis
Sunday, August 17, 2008
RedDirt's Weekly Update
The Advance-Decline Line tells us we are still in a downtrend. The problem with this indicator is, in the past I have seen it trending lower has a small portion of the stocks in a total market will carry an Index higher. Sometimes much higher. This indicator is therefore somewhat deceiving. It could actually be trending lower and the overall market could be making higher highs. So, what to do? I would suggest not throwing this advance-decline line out. What I feel is important is to watch it along with the $vix and growth vs. value to try and determine where the action is. Just look at what Apple, Google and a few other stocks where able to do by themselves as far as moving an Index. It's the new leaders that emerge when other's begin to fail that support the whole system. Sorry, but that's just the way things are.
The latest MOOSECALL from William Dirlam is once again to stay $CASH$. Who could blame him for being conservative. It's your money he's trading not his. I would be willing to bet he is buying some positions with his own money @ these ridiculously low prices. XRX trading at 10 times earnings. GE trading at 13 times earnings. Come on, get real. Do you really think multi-nationals with products and services in BIG demand in a growing world economic expansion will not thrive over the next decade? I believe things are much better than they appear to be. Sure, big banks could fail, hedge funds could collapse, families could be booted out of their homes. But, America WILL Survive.
Now on to what I'll be working on over the next few weeks. MORE FREE CHARTS to come. I'll be working on the replacement BRIC TRADE charts. Also, I'll be adding links to my GARP SCAN stocks. Charts for every stock that shows up on the scan. You can click HERE to see all the stocks that made the most recent GARPSCAN.
Tonight I toured the area that will be affected by T. Boone Pickens Plan . The land affected is mostly wheat fields. The 35000 volt high lines will cut the town of PIEDMONT basically in half. When I drive into my little bed and breakfast community, the sign coming into town reads,"Winds of Progress". So, as I see it, if we are willing to divide this community in half to escape our dependency on foreign oil, it's worth it! Boone's plan is already in affect. There will be more GAS RIGS drilling in Oklahoma next year than any time in history! This state truly is recession proof. T.Boone supported Bush during his race to be President. Boones' support for him was based on building an Energy plan to ween us off foreign oil. Bush spent 6 years in office with a Republican Congress and NEVER made any progress. T. Boone got so "pissed off" that he said," the hell with Bush and the Saudi Bastard's, I'll do what needs to be done all by myself." He is proving, one man can make a difference. There will soon be a new ETF trading on the AMEX. The proposed symbol will be "OOK". Yes, Oklahoma is OK. The ETF will feature Oklahoma based companies, either headquartered here or having a major presence in this state. OOK has outperformed the S&P500 by over 20% each year since 2000. Of course the Index was heavily energy weighted. Things could quickly swing to technology. Wind, Switch Grass, Solar etc... I'm pretty sure the ETF will fall once it begins trading, But at some point in time it will be a great buy!
I'll soon be back to posting my normal weekly update. We'll look at one chart, study the indicator's attached to that chart, and talk about the support and resistance levels corresponding to the chart at hand.
Thanks for stopping by and Good Luck with all your trades!
Labels: decisionmoose, garp stocks, green trade, growth stocks, sp500, stock scans, technical analysis, weekly update
Monday, July 7, 2008
GarpScan UPDATE
HERE is the link to the latest GarpScan. Remember GARP stands for Growth At a Reasonable Price! Now the sad thing about this scan is only 21 companies showed up with the market oversold to the hilt. Another sad thing is I ran this scan 1 week ago(although I didn't make it public) and Buffalo Wild Wings showed up. Now it's missing. I"ll be doing my Top 25 BWLD survey within the next 2 weeks. I know this sounds a little crazy but if BWLD is expanding to area's where college football ticket sales are increasing then their sales should increase big time. Everybody likes to follow a winner and so does Buffalo Wild Wings. Old RedDirt is working day shift now so I've had to restructure may trading discipline. Instead of looking at 5 time frames I'm only looking at 3 time frames. The Daily chart, Weekly chart and Monthly charts will be my main focus. The Hourly will still capture my attention and the 1 minute chart is going to become a Ten minute chart. Keep checking back in this week for a look at my BRIC TRADE update.
Thanks for stopping by and good luck with all your trades!
Thanks for stopping by and good luck with all your trades!
Labels: garp stocks, growth stocks, stock scans
Sunday, May 11, 2008
RedDirts Weekly Update
The expected pull back took place this past week although it missed my target by 7 points as the low for the week was 1384.11 instead of the 1377 that I felt would be hit. Here on the Daily Chart it appears some support may be trying to build along the trend line and the 65 day trading band. I'm thinking since the candle for Friday is by no means bullish looking, the market will be headed lower for now.The past weeks BRIC trade finally saw the $RSX breakout above the gap resistance that I've been mentioning for the past few weekly updates. $RSX was up all five days last week and led the BRIC countries with a 10% gain for the week. It was followed by Brazil(EWZ) with a -0.56% loss. Then came the pain, as China and India fell -7.11% and -8.6%. The EEB remained above the trend line even as we witnessed a stochastic sell signal for the $HKO. My trailing stop will determine how much longer I'll be in this trade.
The GreenTrade stocks had some really big winners for the week, led by BWEN with a gain of 21.86% for the past week. It was followed by AMSC with a 14.41% pop and SOLF with a 13.01% gain. PBW was unchanged for the week and QCLN gained 1.82%.
The Moosignal is to stay in cash for another week. Click HERE to read the latest MooseCall by William Dirlam.
One good thing about every bear market is eventually they come to an end, for now this bear seems to have some bite left in him.
Labels: decisionmoose, growth stocks, RedDirts BRIC Trade, sp500, weekly update
Tuesday, February 5, 2008
My Latest GARP SCAN Results
ABB led off the list once again. Not because it is the best pick of the 28 Stocks to make the cut on the GARP SCAN. It's only because my results show up in alphabetical order. Although, JIM CRAMERICA now says BUY!BUY!BUY! Shit! the word is out before I could buy all I wanted. Anyway this list looks to have lots more good stocks on it that are still under the RADAR. I'll update the RED DIRT TRADER CHARTS soon to the newest GARP STOCKS LIST. SeeeeYaaaaa!!!
Labels: garp stocks, growth stocks, stock scans, stockcharts
Thursday, January 24, 2008
BLACKGOLD:GREENGOLD
I've recently reshuffled the first three pages of RED DIRT TRADER CHARTS to give my visitors a macro to micro look rather than the other way around. I'm also intoducing a new chart that I feel you all will find very simple to understand. That's it to the left of this post and click here for a better look. I believe the expectations of this trade is that foriegn traders will buy $USD and invest in USA technology and expect both to go up, of course with tech out pacing the $USD as I see it. The reason the commodity currencies are compared to a non-commodity currency is simple. As new technologies emerge we rely less on the old world commodities. I spent a lot of money to learn this. $4 on a magazine several years ago. As you can see in the chart the CannuckBuck/YEN is a very good leading indicator on BLACKGOLD and also GREENGOLD. If the worlds largest economy is going to continue to outpace the rest of the world we should start to see some major divergences between BLACK and GREEN.
Labels: growth stocks, technical analysis
Thursday, January 17, 2008
CAPITULATION
Have we witnessed true capitulation in the $NDX. I believe so. The breaking of the trend line and the most volume for a single day in years. Seems so weird to see this happen so close to recent highs and nearly 38% Fibonacci Retracement level above 2002 lows but it has happened. Thank God. Now for some really big gains. I warned of the SPINNING TOP on 11/02/2007 and laid out several support area's for a bottom. It now appears one of the major resistance area's will soon be the new support. QID up about $13 since November 2nd.
Labels: candlestick charts, growth stocks, major indices, Nasdaq 100, stockcharts, technical analysis
Monday, January 14, 2008
Safe Place to Hide
Finally found somewhere to hide out in my FRAIDY HOLE. Tech is going to start outperforming big time. May not be today but it's time is coming. It's testing the breakout on the RATIO CHART for support so I'm looking for some leaders to show up soon. I'm also looking at some laggard's with clean sheets. No sub-prime slime. The hardest hit clean dudes like XEROX might well be a good bet. Maybe I'm just Photo-copying my BUTT , but the last time XRX traded at this HISTORICAL level it turned out to be a 5 BAGGER. Yea, I'm talkin' $60/share down the road. July of 2016 only about 8 1/2 yrs out from now. Check out the CHART for yourself.
Labels: garp stocks, growth stocks, Nasdaq 100, sp500, technical analysis
Friday, January 4, 2008
New GARP Scan
ABB continues to show up on my GARP SCAN. Click the GARP SCAN link to see all 28 stocks that made the most recent cut. No stock on this list is a trade recommendation. It is only a list of stocks that should provide growth and, that at the time of the scan, where at a reasonable price. I'll update my RED DIRT TRADER CHARTS to include all 28 stocks of the latest scan.
Labels: garp stocks, growth stocks, stock scans, stockcharts
Wednesday, December 5, 2007
BRIC Performance Chart
HERE is a look at the BRIC(Brazil,Russia,India,China) performance chart. It can also be found @ Red Dirt Trader Charts chart #35. Here is a related article on BRIC ETF's . According to that article the BKF has the weighting right. The only problem is, it just started trading and if I were to use it for my chart there just isn't enough data for a good read. But as you can tell by using the BIK the underweight position in India has really caused the overall performance of that ETF to suck when compared to the individual country ETF's.(Excluding Russia,RSX) Anyhow, when selecting an ETF I like to look at average daily volume for liquidity and tighter spreads between the bid/ask. The BRIC Trend Indicator(BTI) will be my secret for now. Enjoy watching the new charts. #34 and #35 @ RedDirtTraderCharts and thanks for stopping by.
Labels: BRIC ETF's, growth stocks, stockcharts, technical analysis
Saturday, December 1, 2007
Study This
Here are the latest results of my GARP Scan. (GARP=Growth at a Reasonable Price) Since this weeks recent run up some of the names that were on the last scan have disappeared. No wonder, with the recent gains. This new list is shorter and some very interesting stocks are still on the list and some very interesting new stocks have shown up. I'll update the chart list @ RedDirtTraderCharts to reflect the current stocks on the list. Any of the stocks from the old list that have dropped off will be moved away from public viewing. You can always pull up the earlier list and build your own charts for viewing @ http://stockcharts.com/. So here it is, just click this link http://reddirttrader.googlepages.com/garpscanstocks to see the new list of GARP Stocks.
Labels: growth stocks, stock scans, stockcharts, technical analysis
Subscribe to Posts [Atom]
Subscribe in a reader
