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, September 3, 2008
RedDirt's Weekly Update
Looks like the the MOOSE has finally made a switch!!! William Dirlam warned that all the green horned moose followers should take a step back and read the Art of the Switch. I couldn't agree more. The uptrend in bonds seems somewhat suspect to say the least. Mostly due to the fall in commodities and the lack of performance in equities, somehow the bond market is drawing some attention. Volume for the TLT is my big hang-up. Not very convincing for a great trade. But, I won't argue with the Moose diagnostics when it comes to money flows to certain asset classes. Bill's program, experience and record speak for themselves. So, WHO the hell am I to question this switch. My job is to figure out the WHEN and the WHERE to place an order to take advantage of this MOOSECALL. Is it really worth the time to to consider a trade? Maybe so, with the FED CHECK at Stand Pat and commodities trending down, could the World be taking notice that the good faith of America to pay interest on this enormous debt be real.Maybe we should take a look at the YIELD CURVE and observe the steepness of that curve to help deduce the amplitude of just what could be about to occur. Could a flattening be about to happen from the steep angle we currently see. Maybe it's a good time to look at John Murphy's Intermarket PerfChart. Murphy explains the Inverse and Positive relationships between the four majors, Stocks,Bonds,Commodities and Cash. This should help in determining an entry point to the MooseCall. Be Patient. Take some time to study the relationships amongst the 4.
Thanks for stopping by and as long as you're here, click around at the links to the left sidebar for more free info on the markets!
Just incase you have some time for extra study this week. Read this STORY to catch some insight to what the "f" is going on here in the good ol' USA.
Labels: commodities, decisionmoose, technical analysis, 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
Wednesday, August 6, 2008
Hard at Work
Take a look to the left side bar and you will see I'm hard at work building out some free stockcharts to keep this blog up and running. Click Here to see a sample of what life will be like RedDirtTrader Charts A.D. The 1st link which is a premium site will soon disappear. All we'll be left to work with are the tools of the free charts @ http://stockcharts.com/. I intend to help teach traders how to take advantage of just how much free information is available on the World Wide Web(www).Labels: Nasdaq 100, sp500, stockcharts, technical analysis
Saturday, August 2, 2008
RedDirts Weekly Update
This CHART shows what I interpret as being Bullish Divergence. July's low price in the $SPX managed to make a lower low than the March bottom but, of the 500 stocks in the index there was nearly double the number of stocks trading above their 200 day moving average when compared to the low for the S&P made back in March. I would expect to see a technical rally occur in the S&P that could possibly see as many as 250 or more stocks make it above their 200 day moving average.
This week Bill Dirlam posted on MARKET TIMING with DECISION MOOSE that his program tells him to continue staying in a 100% cash position. What I found humerous is he actually mentioned Jim Cramer in his Moosecall for the week. After looking at the charts I can see why Cramer is calling a bottom. After reading Bill's Moosecall I favor that this is just a bear market rally. Could this be the beginning of a new Bull Market? Who Knows. But, the next one has to start somewhere, might as well be here.
As for the BricTrade this past week, Brazil posted a gain of 2.17%. Russia somehow managed to squeeze out a 0.02% gain. India was up another 0.41% and China fell -0.29%. The commodity countries (Brazil and Russia) were hammered badly in July but China and India both had nice gains for the month. India was up 15.19% for the month and China gained 4.59% in July.
As of 09/23/2008 my Stockcharts will be history. So, my public chart list will disappear. I've decided to let my account expire and use the charts provided on Scottrade Elite. I know for a fact I'm going to miss building my very own indicators and charts but I intend to push Scottrade into continuing the improvement of the charts at their site.
My house is still on the market. CLICK HERE to take a look. If you know of anyone looking to move to the Oklahoma City area be sure to direct them to http://322cypress.blogspot.com/ . Homes here in Oklahoma didn't see the BIG run up leading into 2006 and because of that the housing market hasn't seen the BUST like some areas have. In fact home prices in Oklahoma actually increased by 4% over the past year.
Sorry about the real estate commercial. Thanks for stopping by and good luck with all your trades!
Labels: bullish divergence, decisionmoose, RedDirts BRIC Trade, sp500, stockcharts, technical analysis, weekly update
Saturday, July 26, 2008
RedDirt's Weekly Update
This is going to be the shortest weekly update ever. Over the next month or 2 I will be building a position in a certain ETF. The symbol will be RPG. Just take a look at this CHART and you will see why growth is the choice over value.1) Commodities are falling off a cliff. 2)The $USD is gaining some solid footing and 3)all those dollars T. Boone talks about going to the MiddleEast are now looking for a parking place. The shorts will be running for the exits and this market is going higher over the next 6 months. RPG long term trade.
Looks like the Moose got bought out buy Chuck Schwab. Check out the new digs HERE.
Labels: commodities, decisionmoose, technical analysis, weekly update
Wednesday, July 9, 2008
RedDirt's BricTrade Update
Jim Rogers stated about 1 year ago that," the Chinese market is going to correct and I hope I have the whereabouts to BUY." I saw this interview one Saturday morning on Fox Network. Well Jim, are you BUYING? The ol' RedDirt is really starting to see some evidence that this may be the time to take a serious look at the FXI(China) ETF. My BricCharts are really starting to flash some signals at me. First let's take a look at how I determine which of the BricCountry ETF's may out perform the major BricETF EEB. It's really simple. What I do is ratio each individual BricCountry ETF to the EEB as one of my indicators at the bottom of each chart for EWZ , RSX , INP and FXI. Then I look at how that ratio has performed when compared to it's 29 day simple moving average & is the ratio moving up or down. Starting to get the picture?
Now for step #2. The Hong Kong Options Index CHART was just me stumbling across something that I felt would help out when trying to determine market turns. So far it's been working. It's not much different than using the $CPEC(call/put ratio) for an indicator on the $SPX. In fact, it's been working well enough to make it my #1 chart when trying to determine positive or negative divergences.
Last but not least, step #3. When I feel really uncomfortable about going long, I look at that individual chart and determine do I place a market order, place a buy stop just above some nearby resistance or just enter a limit order to try to get filled at some sort of nearby support level. Experience tells me the best order to place is when nearby resistance is violated. I usually get filled about 7 cents above that level. Usually that price is just above the nearest Buy Fractal or the Gator moving averages. ((Visit http://profitunity.com/ for an explanation of Fractals and Gator ma's.)) It could also be just above a bullish reversal candle stick such as a Hammer or Bullish Engulfing pattern.
Here's a little update on the S&P500. As of the market close July 9th, 2008 we are just 1.6% above the 2006 lows which I feel is a very important support level. We are only 5.6% above the really big support level of 1176 neckline of the reverse Head & Shoulder pattern from the last great Bear Market. If you look at the Monthly Chart and the Weekly Chart you will clearly see the support levels I'm talking about.
There will be no RedDirt's Weekly Update this coming Sunday. Sorry to say, I'm turning 47 on Saturday so I'll be recovering from 18 holes of golf and possibly a hangover. Not to mention I'm also scheduled to work Sunday.
Thanks for stopping by and good luck with all your trades!
Now for step #2. The Hong Kong Options Index CHART was just me stumbling across something that I felt would help out when trying to determine market turns. So far it's been working. It's not much different than using the $CPEC(call/put ratio) for an indicator on the $SPX. In fact, it's been working well enough to make it my #1 chart when trying to determine positive or negative divergences.
Last but not least, step #3. When I feel really uncomfortable about going long, I look at that individual chart and determine do I place a market order, place a buy stop just above some nearby resistance or just enter a limit order to try to get filled at some sort of nearby support level. Experience tells me the best order to place is when nearby resistance is violated. I usually get filled about 7 cents above that level. Usually that price is just above the nearest Buy Fractal or the Gator moving averages. ((Visit http://profitunity.com/ for an explanation of Fractals and Gator ma's.)) It could also be just above a bullish reversal candle stick such as a Hammer or Bullish Engulfing pattern.
Here's a little update on the S&P500. As of the market close July 9th, 2008 we are just 1.6% above the 2006 lows which I feel is a very important support level. We are only 5.6% above the really big support level of 1176 neckline of the reverse Head & Shoulder pattern from the last great Bear Market. If you look at the Monthly Chart and the Weekly Chart you will clearly see the support levels I'm talking about.
There will be no RedDirt's Weekly Update this coming Sunday. Sorry to say, I'm turning 47 on Saturday so I'll be recovering from 18 holes of golf and possibly a hangover. Not to mention I'm also scheduled to work Sunday.
Thanks for stopping by and good luck with all your trades!
Labels: bearish engulfing, BRIC ETF's, candlestick charts, RedDirts BRIC Trade, sp500, technical analysis, weekly update
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
Friday, June 20, 2008
BricTrade Update!
Click on the image to the left and read the note about the Stochastic indicator or click HERE to open the Hong Kong Option Index Chart in a new window. If you have been following along with my BricTrade, you know how closely the EEB tracks the $HKO:$USD ratio chart. The reason for this post is that all the individual BRIC country ETF's are signalling stochastic buys but my favorite indicator for the EEB is saying,"hold your horses." I know this train is going to leave the station one day and I'd rather catch the caboose than get ran over by the engine. After back testing my chart indicators this is the 1st time since the EEB has been trading that the %D on the $HKO has dropped below 20. It is only the 6th time in 5 years that this has occurred for the Hong Kong options index. For the investor it's probably a good buying opportunity, for the trader, why get ran over by the engine if you can catch the caboose.Labels: BRIC ETF's, candlestick charts, RedDirts BRIC Trade, technical analysis
Saturday, May 24, 2008
RedDirt's Weekly Update
Better late than never, better early than late. The Bear's bite came this week into a long weekend Holiday. The Monthly Chart tells me we could revisit the bottom Bollinger Band. The Weekly Chart says support may have been hit at the 10 week MA's. The Daily Chart tells me to wake up if we close below the 65 day sma. The 60 Minute Candle Chart says we are over sold and should expect a bounce back to the 1390-1395 area. The 1 minute chart is saying,"Help! I've fallin' and can't get up." To sum up the market's, I'd say drop back 10 yards and punt on 3rd down. Just kidding. The longer term charts are saying the bottom is in and the second leg up is starting to develop. The break out above 1440 with volume is what will prove it. If you've read my post from Thursday May 4th, 2008 you would be amazed how important I must have thought that magic number was. Take another look at this past weeks high of 1440.24 and ask yourself, "How did Reddirt come up with this resistance?" Damn, there must be a bunch of hedge fund manager's watching the weekly Bollinger bands. Now, look up, why is 'second leg up' green text instead of black. "Well", as Ronnie(deregulation Reagan would say) "the party is just getting started." Just joking, I really don't mean to offend any of my Republican friends. The point I'm trying to make is there may be something to this elliottwave stuff. Personally, I've had more success counting waves by using 3-line break charts @ stockcharts.com . Oh My God, if your watching 3 line break charts, you really need to get a life.
The BricTrade is hanging in there so far. I moved my trailing stop up to $54 on the EEB and it came very close to taking me out of the trade on Friday. I've been getting some signal's telling me to get the Hell out of the trade but I'll take my emotions out of this and let the trend line do my work. Check out all my BricTrade Charts by clicking HERE!
Here's a LINK to what I'll be reading once again this Memorial Day Holiday. I visit it every year since 1999, just to remind me , "if a horse shoe is hot, it shouldn't take me long to figure it out."
Good luck with your trades and I'll be back in a couple of weeks.
The BricTrade is hanging in there so far. I moved my trailing stop up to $54 on the EEB and it came very close to taking me out of the trade on Friday. I've been getting some signal's telling me to get the Hell out of the trade but I'll take my emotions out of this and let the trend line do my work. Check out all my BricTrade Charts by clicking HERE!
Here's a LINK to what I'll be reading once again this Memorial Day Holiday. I visit it every year since 1999, just to remind me , "if a horse shoe is hot, it shouldn't take me long to figure it out."
Good luck with your trades and I'll be back in a couple of weeks.
Labels: RedDirts BRIC Trade, technical analysis, weekly update
Sunday, May 18, 2008
RedDirt's Weekly Update
Was I wrong or was I early with last weeks call that the bear still has some bite left in him? Only another week tell.
Now on to the business at hand. "Multiple time frames". As you can tell by looking at my Macro to Micro time frame charts for the majors at RedDirtTraderCharts you can see that I've been trading with that mind frame for some time. Although, I never thought to write a book about it like Brian Shannon of alphatrends did. kirkreport.com reviewed the book and had some come-back questions for Mr. Shannon. Looks like he is passing the test. Basically I look at 5 time frames although depending on overall market conditions I may only be trading 3 or 4 of them.
As for what the market will do this week, your guess is as good as mine. Week before last I missed the downside on the SP500 by 7 points with my call of 1377. This past week I totally blew it with my call for another bite by the bear. So, depending on what your time frame was, last week was either good(1 minute,60minute,daily) or bad(weekly, monthly).
What I saw on the 1 minute chart late Friday tells me, I was probably early on my call.
I guess I'll have to order Brian's Book and read it for myself. I'm most interested in what his allocations are for each time frame. The longer time frame=more allocation v. shorter time frame=less allocation would be my guess.
Be sure to click on the links in the left sidebar to see what the latest updates are from the DecisionMoose, RedDirt's BricTrade, and all my other favorites.
Now on to the business at hand. "Multiple time frames". As you can tell by looking at my Macro to Micro time frame charts for the majors at RedDirtTraderCharts you can see that I've been trading with that mind frame for some time. Although, I never thought to write a book about it like Brian Shannon of alphatrends did. kirkreport.com reviewed the book and had some come-back questions for Mr. Shannon. Looks like he is passing the test. Basically I look at 5 time frames although depending on overall market conditions I may only be trading 3 or 4 of them.
As for what the market will do this week, your guess is as good as mine. Week before last I missed the downside on the SP500 by 7 points with my call of 1377. This past week I totally blew it with my call for another bite by the bear. So, depending on what your time frame was, last week was either good(1 minute,60minute,daily) or bad(weekly, monthly).
What I saw on the 1 minute chart late Friday tells me, I was probably early on my call.
I guess I'll have to order Brian's Book and read it for myself. I'm most interested in what his allocations are for each time frame. The longer time frame=more allocation v. shorter time frame=less allocation would be my guess.
Be sure to click on the links in the left sidebar to see what the latest updates are from the DecisionMoose, RedDirt's BricTrade, and all my other favorites.
Labels: decisionmoose, RedDirts BRIC Trade, technical analysis, weekly update
Friday, May 16, 2008
Fill the Gap
I'm watching this gap closely. If this Nasdaq100 Chart happened to be a nearby cotton chart every old- timer cotton trader eyes would be looking to see if the market closes above or below this gap and what kind of volume took place for that trading day. I know you are all saying the $NDX gaps all the time. Well, this one is more significant due to the fact this gap was left the day the $NDX closed below the "all important" 200 day sma. For those who looked at the cotton chart will swear, cotton is headed back to 87 cents.Labels: commodities, Nasdaq 100, technical analysis
Sunday, April 20, 2008
RedDirts Weekly Update
I'll start out this week with a look at the SP500 Daily Chart. You'll notice the rally off the JAN and MAR lows have come on decreased volume. Very similar to the bottoming action of the 2002-2003 bear market end. The market closed above both the 29 day trading band and the 65 day trading band. Resistance as I see it would be the center line of the 360 degree trading channel and the upper band on the Weekly Chart. That would mean I'm expecting strong resistance in the 1416-1426 area. Of course the FEB 1st high of 1396 would need to get taken out first. Another bright spot on both the $SPX and $NDX is that I see crossover buys for the PPO on both weekly charts.As for the BricTrade. The $HKO is still in a uptrend after breaking out from the bullish divergence formation. This Article explains all 3 classes of divergences and is a must read! I prefer to use the RSI and StochRSI for oscillators when detecting divergence. That explains the overlay of the 2 indicators on most of my charts. Brazil has shown the most strength of the four individual Bric country ETF's and EEB is the leader on the BricETF Perfchart. Brazil and Russia are in mark-up phases on their charts. While India and China are in accumulation phases. The phases and chart formations are explained in this article buy Chuck Dukas. $RSX(Russia) warrants special attention at this time due to the fact it is in the Gap Area left from the start of it's downtrend. More on trading gaps at a later time.
Now for the Moosecall. Still no update at the time of this post. But, when we do get a switch it appears it will be to ILF. Click the Moosecall link later today and hit refresh on your browser to catch the latest from William Dirlam.
I can't leave you without a little something to study. So, along with the article about the 3 classes of divergence, here are a few articles of interest on a particular trend indicator. Article #1 , Article #2 & related terms , Article #3.
Labels: BRIC ETF's, decisionmoose, RedDirts BRIC Trade, sp500, technical analysis, weekly update
Saturday, April 5, 2008
RedDirt's Weekly Update
This week I'll start out by taking a look at the action in this past weeks BricTrade. The $HKO:$USD ratio chart (click here) is a strong contender for trade opportunities in the EEB solely off buy and sell signals on the Stochastic.For the week we see that EEB led the other BRIC ETF's with a 7.22% gain. While the winner for the week among the individual country ETF's was EWZ with a gain of 8.89%. On Tuesday we saw trend line breakouts above the gator moving averages for both EWZ and FXI. RSX has made a nice recovery since it's latest stoch buy signal, whereas INP still appears to be under distribution as it closed below all moving average's and closed down -3.75% for the week.
Now for a look at the Weekly SP500 chart. As I was expecting we saw that bounce to 1380 this past week. It finally got touched on Friday as evident here on the 60 minute chart. Now for the hard part. Where does it head from here? My view would be that a sideways consolidation would be nice but that may just be wishful thinking. What I'll really be watching closely is any pull back to the 1335-1343 area to see if that area holds for support. I really wouldn't be surprised to see an inside week on the weekly chart. What I mean by that is last weeks high and low will not be broken this coming week. But, I'll be prepared for anything to happen by being glued to the 60 minute and 1 minute charts.
Time for a look at the DecisionMoose. Be sure to check in later this weekend for the most recent Moosecall and Moosignal. Be sure to hit refresh on your browser to see if it has updated.
If you have some extra time this week this LINK will direct you to the learning center at Barchart.com. Thanks for stopping by and good luck next week with your trades.
*Please remember nothing mentioned on this blog is a trade recommendation, the purpose of this or any other post here is to get you, the reader, interested in learning what technical analysis can do for you.
Labels: BRIC ETF's, candlestick charts, decisionmoose, RedDirts BRIC Trade, sp500, technical analysis
Friday, March 28, 2008
BRIC TRADE UPDATE
I've finally put the finishing touches to my BRIC Trade charts. Click on the RedDirt's BRIC Trade Chart Page link to check it out! Please comment on any improvement's you would like to see for these ten BRIC Trade charts.Thanks for stopping by.
Labels: BRIC ETF's, RedDirts BRIC Trade, technical analysis
Friday, February 22, 2008
Catch the Moose
RedDirtTrader is not sure how many trader's follow the DECISIONMOOSE, I just recently began following the trading program myself. I've added the MOOSECHARTS to my public chartslist @ Stockcharts.com . Also, RedDirtTrader built a MoosePerfchart to help track the 8 ETF's that are used. The most recent Moosignal was to switch from cash to GOLD back on 11/23/2007 @ $81.25.... It closed at $93.25 yesterday.
That's over 14% gain compared to the S&P 500 being down more than 7% over the same time period. Nice call Bill ! Although I didn't get to profit from the most recent call due to the fact that one of the rules is to not enter a trade until a switch is signaled. But, it was very tempting, when GLD bounced of the trading band on the daily chart. Something tells me to keep following this system for awhile.
Labels: commodities, decisionmoose, technical analysis
Wednesday, February 6, 2008
Tech Rally May Come Very Soon
If the upward moving trendline holds has support we could have a tech rally looming. I'm preparing for it. Looking to take advantage of any rally with QLD. $NDX:$SPX Chart
Labels: Nasdaq 100, sp500, technical analysis
Sunday, February 3, 2008
Weekly Update
This is one hell of a correction or the beginning of the next Bear Market. The WARNING SIGNS showed up some time ago. The reverse H&S pattern target was hit in October '07 on the WEEKLY CHART . But if you look at the bounce off the the 38% retracement line and the bounce off the lower bollinger band on the MONTHLY CHART you would think this is only a correction. I'm treating this as a bear market beginning due to the fact the charts tell me to. I've been somewhat defensive since July 2007 and the repositioning helped. My retirement fund is up for the year and so far I'm beating the S&P500 by about 6%. Carl Swenlin has some interesting comments on the markets in his latest interview. Enjoy the Super Bowl and have a great week.
Labels: candlestick charts, sp500, Super Bowl, technical analysis
Sunday, January 27, 2008
Weekly Update
By the look of last week's candle stick there appears to be indecision in the market. The upper and lower shadows are long with a small reel body squarely in the middle. The bullish signs are that the market looks to have bounced off the 38% retrace line and finished above last weeks close. The bearish signs are that we are technically in a downtrend by being below the red-green trading band. So therefore Bear Market Rules must be applied. It's at times like these when discipline must be in your bullseye. I've been hiding out in my fraidy hole and the last few days have been pretty SAFE. Just in case this is an F-6 Bear Market I've been searching for an even safer fraidy hole. Like Carmer says," there's always a bull market somewhere." This is one area that is interesting to me. I've added it to my Red Dirt Trader Charts List. It's one of the few indices that show Big money is betting on. Select the Nikkei 225 and click on "GET CHART". Be safe out there in this here storm. See ya'll next week. Thanks for stopping by.Labels: candlestick charts, sp500, stockcharts, technical analysis
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