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.
MVV…Midcap is the value trade. Buy stops are over Friday’s high of 121.25. Investors are rotating into the Midcaps for value opportunities.
Capital flow 101…You had the expected income averaging from the Mutual Funds after today’s opening which lasted app 20 minutes.
They’ve tried the Indices both ways. The rest of the day will be a time frame trade.
The Financials led by the regional banks BKX, should be on your radar on any break close to 6710.
GS…has negated a overextended pattern from last week. With the 30 yr. under pressure this tgt’s 182 as long as there is no close below 168.
WFC…needs to maintain above 44.
JPM…remains positive above 56.80 close.
Individual names will provide much better opportunity than the Indices at these levels.
Trade on your own terms and above all, Don’t Chase!
For Glossary of terms and abbreviations click here.