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.
December (Z) is now front month.
The spread is 25-30 cents premium over the November (X) which is nothing for the crude.
November expires next Tuesday.
(X) 102.35 will be pivotal for as much as 2 dollars, which will take you to the 104.50-70 area.
With the Dollar getting trashed hard assets and commodities become cheaper for offshore investors in Dollar terms.
If you're a bear, be careful to sell them only where you can mange your risk with a 30 cent stop.
For Glossary of terms and abbreviations click here.