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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

Wednesday, June 3, 2009

The Commodity Bulls Are Back in Town ...What a surprise

Market Tips: The Commodity Bulls Are Back in Town

Despite most of Asia ending slightly higher Wednesday, European stocks fell, dragged lower by commodities and banks. But experts tell CNBC that as the economy recovers so will commodity stocks.
Bullish on Energy

Explaining why he is bullish on the energy sector, with Mark Konyn, CEO of RCM Asia Pacific Limited.

Get Set Up for a Global Recovery

King Lip, portfolio manager at Baker Avenue Asset Management is bullish on the commodities sector against a backdrop of a global recovery.

Oil Prices Will Stay Volatile

John Vautrain, director and vice president at Purvin and Gertz, says oil below $70 will be hard to sustain long-term as low prices will discourage investments in the industry.

Pullback Seen in Copper Prices

There is a risk that copper prices may pull back below the $5,000 level in the coming months, foresees David Moore, commodities analyst at Commonwealth Bank.

The Return of the Bull

The environment that we are facing now is ripe for a new bull market, says King Lip, portfolio manager at Baker Avenue Asset Management.

Optimism Driving Asia Momentum

Optimism is driving momentum in the Asian markets as investors play catch up, observes Andrew Sullivan, sales trader at MainFirst Securities HK.

Banks Are Stabilizing

The banking sector is starting to stabilize, notes Paul Mortimer Lee, global head of market economics at BNP Paribas. He shares his outlook for the sector and global economy.

Aussie Eyes US$0.82

Euan McCreadie, senior corporate dealer at OzForex, says positive Australian GDP data will open the door for the Aussie to hit 82-83 U.S. cents


Golly Gee if the economy recovers then the commodiites, oil and the foreign markets will be in a new bull market. I can only say that if my cat had wings and feathers he would be a bird. The idea here is to get us to assume that the economy is recovering and if it does then blah blah blah. If the premise is wrong ie the economy is not recovering then they have a problem. I am most bearish on the commodities, oil and the emerging markets because this is not the bottom of anything.
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