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.
Time for all Longs to assess their holdings.
Biotech has been a counterweight to Oil & related Energy name weakness all A.M.
EUR/JPY held a big technical level, led by Euro strength.
VIX...13.80 is 200 DMA resistance. Look to match this Vix high up with any sell off later in the day in the Equity Indices.
Pay close attention to any profit taking in the Biotech names later in the day, for this will lead to a broader sell off late day in the Indices.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
