While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
GDX...30.96 is resistance and the upside pivot for a test of 32.11.
GDXJ...50.84 is the matching resistance level and the upside pivot.?A close above this level is needed for a test of 55.
NEM...34.20 is resistance and the upside pivot.
AUY...above 11.72 look for a test of 12.10abx
ABX...by remaining above 19.30 this can retest 21.50.
SLW...Silver Wheaton looks poises to take a run at the 200 day @ 29?as long as it remains above 26.75.
The miners are the sector that is attracting new money.
Expect them to remain firm into tomorrow afternoons Fed Minutes release.
Gold...there are resting buy stops over 1384 which would lead to a test of 1400.
If you're trading these names look at each individually.
Spu's & Nasd...as long as the Spu's do not close above 1653 we will?stand pat with our Long QID position even though it's not the feature today through London's close.
For Glossary of terms and abbreviations click here.