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 DB ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 30.24??????????? 29 Close???
LONG?GILD ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 105.14??????? 103.50 Close
LONG ZIOP?????????????????????????? ? ? ? ??? 7.99?
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Today's Working Orders
No working orders.
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Stocks...
SPU's... 2043 (50 DMA). This will be pivotal all day.
AAPL...reports earnings today. 110 is 50 DMA support.
FTSE...6650 is 200 DMA support.
Bonds ...
BUND...157.75-50 is support.
FX...
EURO...price action over 112.75 will lead to more profit taking. The pattern buy stops are 113.80.
Commodities...
OIL...price action under 44 will need to another swing lower. Point & Figure resistance is 46.25.
General Comments or Valuable Insight
Currency traders... EUR/CHF & GBP/JPY have been very active. EUR/CHF has been moving 3 figures a day on average since the peg was let go.
Today starts a 2 day Fed meeting with profit taking hitting the European Bourses.
I'm not picking the next low in the Indices today. Investors have had a giant run this month with currency and Oil bets.
A lot of Investors will be content to watch.
I'll continue to focus on the Biotech space, since it's been fairly immune to politics. Drugs for the aged isn't political.
The East coast of the U.S. is basically shut down with a blizzard, so I'd expect volumes to be much lighter than normal.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
