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??Ford (F)???????????????????????????????????? 14.19?????????? 14.00 Close
LONG? JJG?????????????????????????????????????????? 38.21
Long GDX 5 DEC 14 21 Call????????????? .36
LONG SLV 12 DEC 14 16.50 Call???? .16
?LONG LINE ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? 16.45
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Today's Working Orders
No working orders.
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Stocks...
Spu's...could go as low as 2046 and hold up. Sustained price action below 2046 would open the way for the Spu to move in 20 point increments to the downside.
DAX...10,000-10,050 is the resistance zone and the closing upside pivot.
MVV...weekly sell stops are @ 70.60. Sustained price action below should lead to a test of 68.80.
Bonds ...
30 Yr. Futures...
FX...
GBP/JPY & CAD/JPY... both put in an ORH day's. Since these are the two instruments with follow through I'd keep my focus here.
CAD/JPY...remains firm over 104.35
GBP/JPY...remains firm over 185.45
Commodities...
OIL... 69.50 is resistance. Only price action above this level will hurt the long term Bears. Sustaining above this level is needed for another 2-3 dollar rally.
68 is weekly Fib support with the Oil turning negative again with sustained price action below 67.50.
Brent...74.57 is resistance and the upside closing pivot.
Silver...16.80 is the 50 DMA, yesterday's high. It will take some work to get through this resistance level.
The Metals have massively screwed investors both ways. My view is that they consolidate before they have another move on Friday's unemployment release.
General Comments or Valuable Insight
The board was loaded with OR's yesterday, from the Metals to the Euro,Pound & 30 Yr. Bonds. All have failed to follow through.
Holiday Auto sales are this A.M. which will put Ford in play.
Dax has been running the Equity Indices strength and the Dax is over bought and failing at 10,000 resistance.
U.S. Indices...look for more of the same. Big stock rotation on light volume with the Midcap and Russell being sold against the Big caps.
Currency traders should be looking at the Yen crosses for low opportunity.
WTI ? Oil
Brent
