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
Sunday, August 24, 2008
RedDirt's Weekly Update
For those of you who only read blogs and don't publish one of your own, probably don't realize the work involved. This work load, especially when changing chart providers, is some major bullshit. I'm tempted to say the hell with it! Trade for myself and take as much money from the newbies as I can. But, for some reason that's just not me. I will continue to create the free charts needed to get my point's across. So, just keep hanging around. You will feel privileged to be in the know of how much free info on the markets is available for the above average intelligent JOE Trader's like us.
Labels: trading desk
Friday, June 13, 2008
What makes a Market?
A buyer and a seller is what makes a market. If I've got it, and you need it or if you've got it and I need it. Market prices come down to supply and demand. If I've got it and you need it we will eventually settle on a price no matter how wide the spread at the beginning of our negotiations. This is where liquidity comes into play. If the commodity or equity has fewer participants then the spread is likely to be wide versus many suppliers and many buyers whereas the spread will be tight. If you are a newbie, keep this in mind. Start out trading only very liquid, high volume stocks or ETF's. If you want to stay with this game, take a look at something like the SPY or the QQQQ's and just learn how to trade one of those two markets. Then once you get really good at that you may want to add a little leverage by trading the profunds or futures. Keep watching page 1 and 2 and the first 5 charts on page 4 @http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID763084. All time frames monthly,weekly,daily,60 minute and 1minute charts are telling me to be short the S&P 500 right now. I'm still flat the market since coming back from vacation, but for some reason my gut tells me to keep my powder dry and only enter this market to the long side one time frame at a time. 20% increments. One fifth of my funds for each time frame. BE PATIENT! If all the big shots are having to de-leverage, where is that money going to go to work? Maybe the Spyder's and the Q's. I think this is why Buffet made a safe BET ...........
Labels: Nasdaq 100, sp500, trading desk
Thursday, March 20, 2008
New Upgrade
I recently upgraded my trading desk with Samsung 19'' wide screen monitors. One of the best trades I've made this year. 1440x900 resolution. WOW!! What nice charts to look at now. $189 USD at my local SAM's Wholesale. This is definitely the way the Internet is meant to be viewed.
Labels: trading desk
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