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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, June 4, 2009

Sound Familiar?

IS a Bull Market — Here's What to Buy: Experts

Take advantage of the recent market gains, said Sean Clark, chief investment officer of Clark Capital Management, and Michael Yoshikami, president and chief investment strategist of YCMNET Advisors. (See their investment recommendations, below.)

“It is a bull market — we’ve been saying that this is a cyclical bull market within an overall secular bear,” Clark told CNBC.

“There’s a lot of positive to look at: risk is beginning to come back into the market, and we’re beginning to see the money that used to be on the sideline slowly filter back into the market.”

Clark said investors should be buying into the dips because he expects the markets to trade higher into the summer and into early fall.

Pros Say: US Banks Now 'Less Risky'
“We’re still on an uptrend,” agreed Yoshikami. “The market has seen its lows and continues to show evidence, including unemployment numbers, that things are stabilizing and recovery is around the corner.”

Yoshikami advised investors to follow the reflation, inflation and infrastructure trade path.

Recommendations:

Clark Likes:

Fixed Income—Especially corporate junk bonds

Emerging Markets—"The emerging markets are the economic engines of the future. As such, those are the primary benefactors of the improving economic landscape," said Clark.

iShares MSCI Emerging Markets Index [EEM 33.56 0.63 (+1.91%) ]

Commodities—“We’re focused and drilled in on the China demand theme. We own commodities and we like commodities. We own oil, heating oil, copper, agriculture, silver,” he said. Clark said gold also looks attractive


Isn't it funny that that they all like the same things. Buy the way Junk bond>>>give me a break!
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