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 sold the Futures @ 136.22.
Buy 1/2 the Short futures @ 136.16
BUY USAU @ 136.31 stop
We'll risk a new daily high on the trade.
The game plan is to take 1/2 the trade off on a small break to pay for the stop.
We're going to play this very tight. A close over 137.04 would lead to a possible 2 point rally.
The level is either correct or it's not.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.