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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, February 7, 2013

So God made a banker

And on the eighth day God looked down on his planned paradise and said, I need someone that can flip this for a fast buck.

So God made a banker.

God said, I need someone who does not grow anything or make anything  who will borrow money from the public at 0% interest and then lend it back to them at 2% or 5% or 10% and pay himself a bonus for doing so. 

So God Made a banker

God said, I will need someone who will take the money from people who work and save, and use that money to create a dotcom bubble, a housing bubble. an oil bubble, and a debt bubble, a stock bubble, and another stock bubble and then sell it to people all over America  and pay himself another bonus

So God made a banker

God said, I need someone to lend money to people with bad credit at 30% interest in order to get their stock price up, then just before the loans turn bad cash out their stock and walk away. And who when asked later will, with a tearful eye ,say the government made him do it

So God made a banker

God said I need someone to build homes in the swamps and deserts using shoddy materials with other peoples money and then use these homes as collateral for a Ponzi scheme he can sell to pensioners in California and Michigan and Sweden. I need some one who will foreclose on these homes kick out the occupants and switch off the air conditioning and plumbing and watch the house turn back into dirt and then pay himself another bonus

So God made a banker

God said, I need somebody to who will tell everyone else to stand on their own two feet but who will then run to the government for a bailout as soon as he gets in trouble   and who will then use bailout money to help elect a congress that will look the other way and then pay themselves another bonus

So God made a banker

God said, I need someone to pay fixed income retirement old people nothing for their bank interest and when they complain offer risky investments to make up the difference so they will lose their principle and then pay themselves a commission

So God made a banker
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