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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, May 14, 2009

Jeff Macke..CNBC tout likes Ford...Why???

Remember the plan ..run the stocks up sell new stock and then run them up after the offering so the institutions can sell the new stock at a profit. See the GS chart that is the plan. First run the stocks then sell the offering then bring on the touts to get the public to take the new stock over. The banks just had their offerings and the hit into those offerings. Now the banks run up and the touts will come on and tell the public they should buy them. Get it??? That means that Jeff Macke is a Lacke By the way Ford should make a higher high on this move so the buyers of the secondary can blow it out with a profit. The same applies to the banks like BAC 11.31 & BBT 22.34 , COF 24.61, USB 17.82 and C 3.59which had a preferred stock conversion(remember the Government bought(converted it) it at 1.50
The beat goes on...Mikey
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