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.
Spu’s…sell stops are @ 1755.75 today’s ORL#. The weekly # is 1747.
There is presently a double top on the point & figure.
Closing below the ORL# is price negative.
EURO…the low is in for a while. 132.90 is the 50% retrace for the past two years. Don’t look to make any money here for a bit without some price consolidation.
LNG…36 is a low risk buy. Only a close below 34.80 changes the picture.
IBM…179.50 is a low risk buy zone with a 1.50 stop
UNH…69 is the buy level with a 40 cent closing stop.
This is a market where you have to trade each instrument on it’s own merits at a level you can measure your risk..
TWTR….plain and simple. This will be an opening range trade.
For Glossary of terms and abbreviations click here.