October 16, 2013 - MDT - Midday Missive
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.
We're looking for low risk names where we can define our risk.
IBM...I like last weeks bottoming action. A close over 186.80 is needed to confirm the low and buy the strength.
GS...Goldman earnings come out before the opening tomorrow. This is one you have to be in before tomorrow if you expect good results.
Technically it's already up over 5% from the 200 day mvg avg @ 153 last week, into short term Fib resistance @ 161.50.
159.50 is as good a level to try a long as any on a pullback today.
UNH...announces before the opening tomorrow. Risk seems limited to around 73 close. Blowout earnings tgt the low 80's.
GOOG...reports tomorrow after the close so you have some time.
840 is support and the resting buy stops are over 906-910. There is nothing in between to hang your hat on.
EBAY...Today's low has to hold with sustained price action over 54.80 needed for more upside.
FFKT...as long as this maintains above 22 this looks good.
KMI.. it seems to be forming a bottom as long as this holds 35 close.
http://biz.yahoo.com/research/
Nasd 100...as long as this maintains closes over 3240, we're looking for 3340.
Spu's...closing over 1730 will lead to much high swing counts.
DXJ...looks to be one of the lowest risk trades on the board.
This can be bought with a 1.3% stop " Against today's Low"
A close over 48.25 is needed for confirmation of higher prices.
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