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.
We bought some Portfolio Insurance off the potential double top pattern in the Spu's.
Like yesterday, when the Equity Indices weakened, the Vix did not rally to confirm a break in the Indices!
Given the potential chart pattern I bought a little downside.
The energy names have been leading today's stock rotation keeping the indices firm.
If we don't see a downside materialize just after 12:20 CDT, I'll likely just sell the VXX out.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.