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.
I've taken my eye off the ball on this one and picked the only instrument on the planet that's not rallying into their earnings.
The chart pattern may or may not hold. It's past time to cut this loose and look for opportunities down the road.
Place an order to sell LINE Sept. calls @ .95
Rather than turn this into some nightmarish spread I have to actively trade, Close this trade out either way by the close today.
general board....
The rest of the day will be a time frame trade. The S&P 500 is coming into mvg avg support around 1687-88.
USD/JPY...price action under 97.65 is needed for upside ( over 102.50 in the Yen Futures)
For Glossary of terms and abbreviations click here.
