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.
SMH...index has a double bottom on the daily chart.
OIL...97.80-98.00 is resistance with resting buy stops above.
30 yr....?admittedly i've been a little out of step with the turns. I like today's low in the TBT and the high in the 30 yr. Futures.
The next wiggle down should take it almost a full point if the Equity markets can catch a bid late day.
We're going to stick to our plan and await tomorrow. A lot of investors will be looking for an algo driven sell off to bottom fish.
The past two days have seen European MOC buying followed by U.S. weakness late in the day.
Time Frame Trading...I can make a case either way for the Indices, however I'm going to wait until tomorrow to place a couple of off the market dream orders.
Cash is good
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