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.
We have a resting limit order in for the 85 QQQ? 2 May Puts.
These expire Friday.
The Puts jumped after we put out the alert.
Do Not chase this trade!
Just leave the order in as a limit order to see if we get filled.
This is a directional bet for the end of the week. We are not willing to pay up!
The market still has the potential to hold in here going into Wednesday's close (month end).
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.