December 5, 2013 - MDT - DXJ Stop Loss...Position Update
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.
DXJ is attempting an ORL week to the downside with a close tomorrow
under 49.41.
While this could bottom going into tomorrow and go right back up,
I'm sticking to my trading plan and the 49 stop on close.
Yes it's looking like we'll get stopped out on today's close with DXJ currently trading around 48.60.
Stick to the plan, you can always get back in.
This one will need some time to form up again. We'll keep it on the radar for the third week in December.
TBT....since we're so small in this position we'll just roll the dice into tomorrow. We are not going to leave a stop in the ETF before the data release.
We will re-institute a stop a few minutes after the release.
The High Frequency guys have bought and paid for the release!
Expect the algos to run the decks both ways before the news commentators even see the results at their desks.
It's not a game a normal trader can play.
The only way you can participate is put a resting price order in the futures and react to a fill. Not for the feint of heart or those that are risk averse.
AAPL...I'll leave the resting orders as is going into tomorrow.
LNG...is running the macro buy stops are over 44.40 which is a new all time high for the stock.
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