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.
OIL... the macro buy stops are over 58.63
USO...breaks out on a close over 20.25.
XLE & DIG both look to rally to test their 200DMA's.
CVX...as long as 109 holds I'm looking for 115.
XOM...is attempting a Cloud breakout over 88.
This leg up in oil should eventually close in on the Thanksgiving OPEC breakdown level?just shy of $69/bbl.
Banks...it's not often I like what the CNBC crowd has to say, however HSBC looks good.
KITE...is putting in an ORH pattern after a 20% break. Resistance is @ 61.50.
IBM...has had a big rally to it's 200 DMA @ 171. It's up into the gap from the Oct gap lower. This is an exit zone for Longs the first time up, not a place to initiate a new long.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.