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

Tuesday, November 29, 2011

ECB's Noyer: Europe's Situation Has Significantly Worsened

ECB's Noyer: Europe's Situation Has Significantly Worsened

European Central Bank governing council member Christian Noyer said on Wednesday that the situation in Europe has significantly worsened, threatening global financial markets.

"The situation in Europe and the world has significantly worsened over the past few weeks. Market stress has intensified," he said at a conference in Singapore.

"We are now looking at a true financial crisis -- that is a broad-based disruption in financial markets."

Italy's borrowing costs hit a euro lifetime peak of nearly 8 percent on Tuesday as pressure on euro zone finance ministers intensified to staunch a two-year-old debt crisis that is threatening to spark a global credit crunch and push the world economy into recession.

Policymakers and economists have floated a few possible solutions for Europe's woes, including the issue of bonds backed by all members of the euro zone to help the weaker economies, increased sovereign debt purchases by the ECB and increasing the size of a bailout fund for the region.

But opposition from Germany and other hardliners in the ECB to some of these proposals has prevented the bank from taking decisive action.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)