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?
No current positions or working orders
.................................................................................................................
Stocks..
Spu's...needs over 1654 resistance to confirm higher.
DAX...8270 is resistance and the upside pivot.
Euro Stoxx 50...2790 is resistance and the upside pivot.
Nikkei...14.170 is resistance and the closing upside pivot.
Bonds...
30 yr...is caught between 132.15 & 131.22.
FX...
AUD/USD...90.40-50 is the mid point of the past 30 days range. It will take above here for more strength.
AUD/JPY...90.00-90.17 will be pivotal in the cross for a figure either way.
AUD/NZD...closing over 115.40 would put the Aussie on a path of gaining over it's down under neighbor. As long as this holds the breaks @ 114.50 this cross has potential to run a couple of figures.
EUR/AUD...by remaining under 147.20, 144.90-50 is support.
Commodities...
Oil...needs over 107.90 for any upside to develop.
Silver...needs to sustain over 24.40-50 for higher or under 23.80 for lower.
Gold...1400 is short term resistance.
Grains...will be easier to trade after the Sept. contracts expire in 10 days.
General Comments or Valuable Insight
Futures expiration s start the week of the 16th. Liquidity
will be moving to December contracts in the Equity & Bond futures, however we always caution traders to use the Sept. contract levels for their trading until closer to rollover to avoid bad signals.
I don't roll for another 2 weeks.
The currency crosses are on the move with investors seeing more low risk opportunity here than elsewhere. Risk bets are being made via the currencies.
Let the board set up before you start firing today. The bulk of the moves were Sunday night into early London, Monday.
Be patient for direction when New York traders come back to their desks.
Short Term View...
Trade instruments off their own technical s
Time Frame Trading.
For Glossary of terms and abbreviations click here.
