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.
BHP…should run into trouble between 70-71.
RIO…needs to close and maintain over 52 for another leg up.
DE…breaks out to the upside on a close over 83.30.
Currencies…
AUD/USD…stick with the Plan!
We’re taking profit just below our tgt.
USD/JPY…is putting inn an ORL day, meaning higher Yen.
97.80 is dollar support and Yen resistance.
With 2 closes above 96.70 AUD/USD or 162 GBP/USD we will be looking to short dollars for a another big move.
It’s a Full Moon tomorrow so the markets will be active!
For Glossary of terms and abbreviations click here.