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, July 15, 2013

Mikey, The Market Shadow, is moving into history

I decided to write this blog in 2008 because I felt there was a need for the financial story to be told by a writer that had nothing to gain from the publishing of the story.  I only wanted to tell the story truthfully and show the view of the market that I had seen for the previous 34 years.  It was hard for me to watch the lies I saw every day in the press and keep my mouth shut.  I knew that "their" story would always win out but I wanted to at least give the public my version of the truth.

I have been true to my message for the past 5 years and at this point feel that I have given as much as I can.  This blog takes 2.5 hours to put together every day and my readership only amounts to about 20 on a good day.  I am not complaining because I love doing it but the time has come to just spend the time trading my own account. 

I end this blog with the market in the most extended and precarious position I have seen since the Summer of 2008.  It is my belief that the world markets are on the verge of collapse and the US market has substantial  risk.  I am a trader and have no problem selling any position at any time.  I have along time ago checked my ego when I trade.  I have very few opinions on anything but trade with the trends.  That being said, I am highly opinionated about what is going on today.  If you are not a trader then I would advise taking most of your money off the table now.  The risk/reward is lousy.

I wish to thank those of you that read me on a regular basis and wish nothing but the best for all of you.

Thanks and good luck,

Mikey
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