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 TBT ? ? ? ? ???????????????? 72.57??????? 71.90?????????? 74.60/76.40
Long IBM ? ? ??????????????????? 174.50 ???? 172.40 Close
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Today's Working Orders...
Sell 1/2 Long TBT @ 74.40 GTC
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Stocks...
?
Bonds...
30 yr....still needs to sustain under 134.26.27 for a point lower. The major qrtrly support and closing downside pivot is 133.12-17.
FX...
AUD/USD...is weak. Aussie could stop right in here on the Point & Figure chart or go another 50 points to 94.50.
While EUR/AUD is into weekly resistance @ 145 the straight dollar could go to 93.30 before I'll buy it again.
Commodities...
Oil... is finding resistance at 98.75 the 200 day mvg avg. 97.50 will be pivotal for another swing down to the recent lows.
General Comments or?Valuable Insight
Let the day set up before you start firing.
Short Term View...
Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30 closes as your macro pivots. Trade the opening ranges and early time frames.
For Glossary of terms and abbreviations click here.