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.
MVV & IWM are leading the U.S. Indices.
IWM is attempting an ORH day. A close over the 50 DMA @ 117.65 would confirm the pattern.
MVV....a close over 74.40 would have me targeting the low 80's
DAX continues to lead the world. 11,000 is the initial swing count as long as there is no close below 10,000 which would seem improbable at this point.
IYT...broke out to the upside today. This pattern remains bid as long as there is no close below 161.40.
GOOGL...a close over 547 is needed for a test of new contract highs.
XOM...has broken out over 92.07.
Silver...18.61 is a retest of the ORL qtr it broke from in the second qtr of 2014.
There is a lot of room on a qtrly chart to the upside.
BUY TBT Market On Close.
BUY GILD Market On Close.
BUY DB Deutsche Bank market On Close....I'll be using a 29.25 Stop Close.
SELL 4 YEN Market On Close. 2 P.M. CDT
These are 3 P.M. CDT orders.
Nikkei held it's # sets this A.M. on the break. Look for this to join the "Risk On" party tonight.
Indices are unchanged on the year. The game starts anew.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.