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Mikey's Short Term Trading Rules

1) Make up a list of stocks, commodities or ETF's to trade. This list should be names that have good earnings and high relative strength.
2) Monitor this list and throw out the weaker names
3) Buy only stocks or ETF's that are intermediate and daily up (green) and the market is Daily and intermediate term up (green)
4) Buy pullbacks on these stocks to the 20 and 50 day averages
Usually you get 4 to 6 20 day pullback buys and 2 or 3 50 day pullback buys in an intermediate term trend
5) More agressive traders can buy the 7 day average in the first 3 to 8 weeks of the uptrend.
6) Buy pullbacks not runups. A buy should not be easy or exciting but difficult and somewhat scary. DO NOT CHASE
7) Place stop at 5% below the buy price. Do not remove
8) Sell 3 to 5 days after the stock price takes out its most recent 2 week high with at least 15% gains
9) Uptrends that are 12 weeks or more may be ripe for a correction. The first 2 pullbacks to the 50 day are usually safe.
Intermediate term uptrends and downtrends generally last from 8 to 16 weeks with 12 weeks being the norm.
10) Shorting is a viable strategy in downtrends for experienced traders only. In general, reverse the above rules
11) Tweet Mikey @themarketshadow with questions or ideas

Thursday, December 11, 2008

Treasuries at Zero and Fannie Mae debt at 5 come on...

The Fed is Fannie Mae and when the Nay Bobs of Negativity figure this one out there will be a tidal wave of money gushing into the mortage market. Think about that one Meridith Whitney (Guru of the Obvious) you moron. Think that will be bad for the banks and real estate. The Mikey BS meter can't go any higher. Jesus the real estate market is set to explode. That Meridith ruins your world is comming to an end story. Count on it the hand is already dealt. Have a good damn day everyody. The beat goes on ....Mikey

OH Yeah forgot to tell you adding to my FNM and FRE at .70
Want to buy GM at about 3.50
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