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.
Current Positions
LONG? AAPL ? ? ? ? ? ? ? ? ? ? ? ?????????? 129.50 ?
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Today's Working Orders
No working orders
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Stocks...
Equities will be all about the sectors and the individual names within.
Spu's...sell stops are below 2090 support.
Nikkei...19,400 is a level that needs to hold over the next day or so to prevent a deeper correction.
SLB...broke out above it's 200 DMA after a third try at the level yesterday.
FCX...needs a close over 23.07-16 to start another leg up.
Bonds ...
TBT...45.72 is first resistance and the bottom of the gap. Closing over 46.20 starts another move up.
FX...
EURO...is strong on the crosses. Pay attention to the Bunds. Weak Bund=buoyant Euro.
EUR/AUD ...is attempting an ORH week. 138.82 is the reversal high. There is little trade location from either side to get involved.
Commodities...
OIL..would not fight the tape going into month end.
Gold...looks like it can be putting in a potential right shoulder on a weekly head & shoulders pattern. If this pattern plays out upside should be limited to 1214.
Copper...2.8950 is 200 DMA resistance. 2.95 should cap the rally.
General Comments or Valuable Insight
It's month end. Instruments tend to get marked at the end of the day.
I've been trading the VIX against my long AAPL.
Without an early recovery in AAPL I'll be exiting the position and waiting for the board to set up again.
Oil majors will be in play today.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
