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.
Spu's have a potential weekly double bottom in place @ 1631.50.? All the near term shorts will get run out of the market again with a close over 1644.
Right now the bots are front running everyone's sell orders in thin markets.
AAPL...Stop closes are either really good or really bad, today it's really bad! That Mid morning meeting was really expensive!
We'll be selling this on the close!
Right now I couldn't tell you whether that would be 4 dollars higher or lower from here.
PCLN...closing under 931.90 which is the weekly ORL # will put pressure on all the high flying techs.
Two things to keep in mind, the robots are running the show.
Most market participants are still on the sidelines winding up their summer holidays.
The miners have stopped rallying even with firm metals prices.? This should be a red flag to metals bulls to tighten up their trailing stops if they are Long.
When margin calls get triggered everything gets sold, including the metals which have been big winners over the past few weeks.
It will be an interesting end game today, followed by some potentially violent price action over the next two days.
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