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.
Short term traders…1675.25 is the daily ORL # in the Spu’s.
The market is definitely aware of the level. Not only is it the qtrly close but when you add in an ORL to boot it becomes a major inflection point.
Buy the Spu’s @ the market with a stop on a new daily low of 1673.
The stop is an all session stop Good Until canceled (GTC)
We’re only going to nibble at this with 1/2 position.
RIO… BHP…FCX…look good on breaks.
Since the metals held the lower end of the medium term trading
range yesterday and again into last night, investors are back looking for value in the miners.
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