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.
BLK (Blackrock)…a close over 260.54 puts in an ORH pattern,however 261.75 is near term resistance. Closing over this level is positive.
This should test 268-69 if the pattern sustains.
AAPL…a close today over 421.25 puts in an ORH
427.30 is the next hurdle.
We’re seeing a big rally into tomorrow’s Fed Minutes.
The above names have yet to see the upside generated by many other names and sectors.
Buy the sleeping dogs for that is where you’ll get your best risk/reward.
The ORH patterns should follow through to the upside tomorrow if they are true.
For Glossary of terms and abbreviations click here.