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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

Friday, March 26, 2010

Rocking in a light breeze

DJIA 10486 +5.66 SPX 1165.52 *.02 Russ2000 678.774 -.34 NASDAQ 2393.50 -3.66
VIX 18.14 -.26

Dollar Index 81.95 .45 Aussie .9024 Euro 1.3404

TLT(20yrGov Bonds)88.98 +.29 IEF (7-10Gov Bonds)89.29 +.19

XLK (Tech)23.05 -.05 XLE (Oil Index)53.06 -.03 XLF (Finan Index)15.94 -.03 KRE (Regional Bank index) 26.33 -.28 XHB Homebuilders Index)16.97 +.09 GDX (Gold Miners Index)43.52 +.61 XLB (BasicMatIndex) 33.65 +.22 XRT (Retail Index 41.57 +.31

EEM(Emerging Markets) 41.03 -.13 FXI(China Index)40.80 +.79 IEV(Europe350)37.88 +.27 (Brazil)70.26 -.02

DBC (Commodity Index)22.97 +.03 Gold 1104 +12.00 Silver 16.88 +.13 Copper 33.407 +.02Oil 79.94 -.59 RBOB (Whsl Gas2.20 -.012 Nat Gas 3.87 -.11


The market is going into the close on Friday with an eerie silence. The good ship market rocks back and forth with no wind in it's sails to push it one way or another. No sell signal yet with 20 minutes to the close.


Mikey
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