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 ZIOP?????????????????????????? ? ? ?? 7.99??????????? 8.00 Close
LONG ?AAPL????????????????????????? ?????????? 116.
LONG BRKB?????????????????????????? ????????? 149.67????????? 149.00
LONG DXJ??????????????????????????? ????? 50.38
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Today's Working Orders
Stocks...
SPU's...the mid to high 2060's will remain resistance and the closing upside pivot.
2039 is 50 DMA support.
Nasd 100...the mid to high 4260's will remain macro resistance and the closing upside pivot.
4224 is 50 DMA resistance.
XOM...89.55 is support. Closing below 89.30 will elicit profit taking.
AAPL...is vulnerable to a break to 112.50, the low risk buy zone.
JPM...needs closes over 59.00 for higher.
THRV & TDW report today. These two will be on the list for later day price action for the earnings lotto.
Bonds ...
30 Yr. Bonds...there is a coupon and valuation difference between the March and the June 30 yr. which closed yesterday @ 165.28 "Globex" putting in an ORL day. Resistance and the upside closing pivot is @ 168.12-17.
Below 165.00 support, there is room for a move to around 161.22.
Bunds...remain firm over 158.35 on the daily chart
FX...
AUD/JPY...needs to hold just under 92.00 to confirm the board stays risk on.
AUD/USD...sustained price action over 78.30 is needed for the Aussie to extend on the crosses.
Commodities...
Gold...is doing a dance between the 50 DMA ( Friday's Low and the 200 DMA 1254), I doubt you'll see a rally extend more than 3-4 dollars over the 200 DMA.
General Comments or Valuable Insight
The U.S. Indices stopped right at our qtrly pivots after, now their 3rd try. You still need closes over these levels in the Indices for another Bull run.
The question now becomes whether or not we see another big standard deviation move to the downside or a lot of price consolidation from here into the beginning of March.
The jury is still out, however closes under 2027 in the Spu's would make me think we take another trip to the cellar.
Trade what you see time. Don't get stubborn and just trade the big macro levels until we get a confirmed upside breakout.
Our entry into our long trades was good. We're willing to give the trades a little room to work, but not much!
Time Frame-Level trading will be the order of the day. Then, take your money and go to lunch or sit at a pool someplace warm. ?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
