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.
The general market tone looks to be “Risk On” going into Month End.
IBB is always a favorite and can be bought with a stop below Friday’s close, looking for a rally into the end of the week.
OXY…88.80 is resistance and the closing upside pivot for another couple of percent.
NFLX…has basically hit my upside objective of app 280. Closing a couple of days over this area will lead to another big swing higher.
IBM..shows a bottoming pattern. As long as this remains above 184.50, look for a retest of 188.25 followed by 190.50.
The game is to pick stocks which are the recent darlings of the Hedge Fund community. These are the names that will get marked up into month end.
The board is setting up to be a light volume back and forth technical trade.
We’ll mark our AAPL long from 504.75.
We’ll be using a 498.20 stop on close.
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