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? JJG??????????????????????? ??????????????????? 37.00 ? ? ? ? ?? 36.80? ? ? ??????????? 42.50
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Today's Working Orders
BUY EUR/JPY @ 141.25 GTC
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Stocks...
Nasd 100...you want to buy this Index between 4100-20 with a tight stop.
SPU's...put in an ORH day yesterday. Closes over 2022 start another measured 100 point swing up.
Nikkei...could retrace to 16,450 and still keep the monthly ORH pattern intact.
The resting buy stops are @ 18,365 with a tgt just shy of 20,000 for this initial move
Bonds ...
30 Yr. Futures... Price action over 142.10 resistance is needed for higher.
FX...
USD/JPY.... The second tgt is app 122 (81.96 Futures), however the entire 117 handle
is an old zone from the way back machine that will crush traders from both sides.
EUR/JPY....is breaking out on a qtrly chart. Buy any pullback to 141.25 with a tight stop.
The first set of macro buy stops are at the 2013 high of 145.69
Euro...126.31 is resistance. Sell rallies.
Commodities...
Natgas....3.73 is support and the closing downside pivot for the rest of the year. Natty put in an ORH week and is following through to the upside. 4.21 is resistance.
3.86 is the monthly close and should be used as the short term pivot for all trading.
General Comments or Valuable Insight
Today's feature are the Yen crosses.
Pay attention to the early trade for Mutual Fund Equity Index buying this first of the month.
The Dollar is strong, however the feature is the Yen crosses since the Yen is leading.
This simply means that you have to be patient to short other currencies at their own resistance areas when the crosses allow.
Don't fight the flow today. Trade the opening ranges!
NIKKEI
?USD/JPY
EUR/JPY
EUR/JPY
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.