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.
Buy the Qid ( Double Short Nasdaq 100) on a 21.05 Stop On Close.
Meaning we want to see a close over today's high in the ETF and under 3075 in the Nasd 100 Futures.
The stop on this ETF is 5% or a 20.28 Stop on close.
It's currently trading @ 21.01.
If this does not close above 21.05 and elect the buy stop to Fill the order, we'll revisit it in the A.M.
We're looking to buy strength in this ETF on a momentum breakout.
For Glossary of terms and abbreviations click here.
