Posting Times

Posts will be between 8:30 PM to 10:00 PM PST
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

Monday, June 7, 2010

Experts put out Buy on AAPL 253.48.. Say that Gold is going to 7000

Ahead of Steve Jobs' keynote address at the Worldwide Developers Conference, a BGC analyst initiates Apple [AAPL 253.48 -2.485 (-0.97%) ] Monday with a 'Buy' rating and a $350 price target.

Analyst Colin Gillis tells Fast Money during a live interview that the iPad is an "untapped" platform for advertising and sees enormous potential in the electronic reader. He says the company has great products that people want and thinks an economic slowdown would affect Apple less than most. Gillis says Apple could almost be classified as "non-discretionary" spending and says that along with food, air and water, people need Internet connectivity.

Notice that they have a price target is 350. If you a short that will get your attention. Right.



Here is the same kind of thing that they are saying about Gold

Gold's 'Real Move' to $7,000 Coming: Asset Manager

The "real move" in gold is to come, predicted Egon von Gruyerz, founder of precious metals investment and storage company GoldSwitzerland.com, on Monday.


He told CNBC he sees the inflation-adjusted price of gold [XAU=X 1243.95 25.95 (+2.13%) ] "easily" rising to six times its current price ($1,210) to around $7,000 an ounce in the future on "normal" inflation.

"Adjusted for real inflation (as per shadowstats.com) the 1980 gold peak in today’s prices corresponds to around $7,200 today. So gold could easily go up 6 times from the current price of $1,220 and still be within normal parameters," von Gruyerz's latest report for GoldSwitzerland.com said.


"Gold is at this point not a bubble," he added. "It is not overbought."

An important barrier for gold is $1,220 an ounce and that barrier will be broken and it's "going to shoot up by probably $100 very quickly," von Gruyerz told CNBC.


If you are a short that will get you to cover 1220. I say 1220 is a fantastic short.

Notice that in both cases they are calling for a price much higher that it is now AFTER they have had a big move. That is common at this stage. I believe that these two are spectacular shorts in here.


Here is the chart on AAPL notice the MACD.



A break of 250 sends it down. God forbid, if the company missed their earnings one time by even .01 the stock is toast. I find the timing of this conference and this reco very interesting. The stock is right at its 50 and breakdown price and they tell you it it going to 350.

On Gold...
Von Gruyerz told CNBC gold could go higher if the world encounters hyperinflation. The fears stemming from the European debt crisis will enhance gold's safe haven appeal, according to von Gruyerz.

Gold.. Inflation???? Inflation??? Look at the commodities and the stock markets around the world. That is inflation??? I think this expert on Gold has his head up his ass, butt he has alot of company in there now.

Mikey
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)