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.
Time to do the tighten up.
Midcap led this last rally. A close today under 14,824 is exceedingly negative, today's ORL #.
Spu's (H) 2044 is the weekly hold level. 2038.25 is today's ORL #. June is trading at a 6 dollar discount.
June is irrelevant for my charting purposes until next week.
OIL...Looking for a test of the yearly low @ 43.48 and then lower into the high 30's
? In short..the Equity indices will be sloppy over the next few trading sessions with the dollar strength & Oil weakness keeping buyers focused on Europe & Japan.
Biotech....Those of you who are riding this bull should have trailing stops working!
When this pustule pops it won't be pretty. Ride the ride until you get bucked off.
?GOOGL...?I didn't see any reason to stick with any name that is losing momentum, so I just exited the position.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
