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
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QQQ? Long FEB 14 89 Call 2/22 exp ? ? ? ?.23 cents
Orders are "stop on close" unless stated otherwise.
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Today's Working Orders
Sell?25 or (1/2) QQQ? FEB 14 89 Call 2/22 exp @ 55 GTC
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Stocks...
Nasd 100...3524 is support.
SPU's...still need a closes over 1800 for higher. The first descent retrace is in the low 1770's.
GDX & GDXJ...have been creeping higher since Dec. tThey both look like they can rally another couple of dollars.
GS...has been going sideways for a week. Goldman needs all new strength above 163 for upside momentum. Short term sell stops are @ 159.77. 156.50 would be a low risk buy area.
30 yr. Bonds...133.18 is short term resistance. 134.10 is today's 200 day mvg avg. keep selling the rallies until proven wrong.
TBT...72.00-20 is the near term resistance. The bigger Fib resistance and weekly mvg avg resistance comes in @ 74.20.
GBP/JPY...167.70 is the near term pivot. Good above...negative below.?This is a Risk On barometer by holding 167.70.
CAD/JPY...by holding 91.85, this can get to just shy of 95 with a Risk On board. match up this hold level with support levels in the Equity Indices
Oil...the upside seems limited to 101.75. 99.25 is very short term support.
Natgas...4.84-88 is weekly resistance. 4.55 is weekly support. Once convincingly below this level I'm looking for a retest of the 4.20's.
General Comments or Valuable Insight
We're seeing some profit taking from last weeks rally in the Equity Indices.
More blather this A.M. out of London about the Turkish Lira. The Lira has been sideways to stronger since the first trading day of Feb.
Time frame trading today.
Selling the Bonds on rallies is the low risk side of the Spu/Bond spread for a Risk On bias.
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We are positive Equities.
The 30 yr. Bond Futures will be the least volatile way to play a Risk On?bias. The Bonds have led from the first week of the year
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