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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, February 12, 2009

The Blue Moon Cafe...or Mikey the Fool and Maximum Uncertainty

DJIA 7736 -203 Gold 948.10 +3.60 Oil 33.75 -2.19 Dollar Index 86.79 +66

Lions and Bears and tigers Oh MY!!!!!

Remember the scene from the first Naked Gun Movie where Lt Drebbin was sitting in the blue moon cafe and on the walls were pictures of the Hindenberg exploding and the the Titanic sinking? This is the picture being painted by the media now. The Hope of the new administration is being replaced by the new reality that the world is coming to an end.

The stimulus package is needed because the world is coming to an end so say the Democrats. The Republicans say the plan is bad. The President is talking about economic collapse. I HEAR THE STIMULUS PACKAGE IS DOA EVEN BEFORE THEY SPENT THE MONEY.

Everyone is slamming the stimulus package...what does that mean? It means that the stimulus package is going to work. Everyone is an idiot. The president, the congress, the treasury secretary. and even MIKEY!!


There is Maximum Uncertainty (YOU KNOW HOW MIKEY LIKES UNCERTAINTY WELL THERE IS FRICKING MAXIMUM UNCERTAINTY NOW). You know we have never been here before and anyone who says he knows what is going to happen is lying or a fool. Obama is in trouble now with respect to the financial package. I know he has been in office for two weeks and he hasn't solved the problem. My God it has not been even passed or spent and the media says it won't work.
The term fool and liar I think would apply more to the Media now than those who say they know what is going to happen.
Time will tell us who the fools and liars are. Everyone is in cash and Gold Gold Gold. I have one thing to say: The Stimulus Package and the rescue plan IS GOING TO WORK. Before it is over that is a big mistake TO BE IN CASH OR FRICKING GOLD.


The beat goes on....Mikey
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