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.
Current Positions
Long IWM ?????????????????????
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Today's Working Orders
Sell IWM 114.35 Stop Close
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Stocks...
Targets remain the same.
DAX...94.77-95.15 is weekly resistance and the closing upside pivot.
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Bonds ...
30 yr. Bonds...140.29 is the top of value and short term resistance on the point & figure charts. Once above, look for 142.00
FX...
Euro...is trading short term oversold. Sell rallies not breaks.
OIL...94.80-95.00 is resistance. Look for price rejection here the first time up.
Commodities...
OIL...94.80-95.00 is resistance. Look for price rejection here the first time up.
General Comments orValuable Insight
I would expect the price action to be similar to last week with only a small back and forth and going into the end of the week which is month end.
I'm attending meetings today through tomorrow with intermittent broadband.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.
