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.
All working orders should be canceled.
EUR/JPY...stopping @ it's 200 DMA "138.57" is staying further Euro weakness for now.
Gold...elected the short term buy stops that have been building over 1250.
Until I see price action and a close over 1260 I'm not convinced this is more than just a running of the weak shorts.
A close today over 1248.80 ( today's ORH #) is needed to attract buyers.
Short Oil/Long Natgas is on the move again. Energy traders should have the spread up to match up with your short term technical areas.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.