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 Bill Davis, 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
GOGO? Long at $19.93
Premium collected - $1.25
NCR Long Jan 15 $27 Call
NCR Short Jan 15 $32 Call
Net Debit - $1.70
VNR Long at $8.91
Short September $9 call @ $.50
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Markets are down pre open based on the non farm payroll this morning.
Monday the markets are closed because of Labor Day.
The question now is where should major support be?
And when should buying come back in.
1,875 should be a major level of support.? A retest of that level would be a great opportunity.
Now onto the markets.
Here are the key levels for the markets.
Stocks...
?
VIX:?
Major level - 43.75
Major level - 37.50
Minor level - 32.81 *
Major level - 31.25
Minor level - 29.68 *
Minor level - 26.56
Major level - 25.00
Major level - 18.75
25 is the support level for the VIX.? Look for a move up to 31.25.
S & P 500 Cash Index:?
Major level - 2,000.00
Minor level - 1,976.62
Major level - 1,968.80
Minor level - 1,945.32
Major level - 1,937.50
Major level - 1,906.30
Minor level - 1,882.83
Major level - 1,875.00
1,937.50 should be a level of support.? But, a move down to 1,906.30 would be the most probable scenario.
Nasd 100 (QQQ):?
Major level - 109.38
Major level - 106.25
Minor level - 103.91 *
Major level - 103.13
Minor level - 102.34 *
Major level - 100
Major level - 96.88
Major level - 93.75
Major level - 90.63
Major level - 87.50
100 should be a fairly strong level of support.
TLT:?
Major level - 131.25
Major level - 128.13
Minor level - 125.78
Major level - 125
Minor level - 124.22
Minor level - 122.66 *
Major level - 121.88
Minor level - 121.09 *
Major level - 118.75
The TLT continues to test the 121.88 level.
Short term timeframes are starting to show weakness.
GLD:
Major level - 115.63
Major level - 112.50
Minor level - 110.16 *
Major level - 109.38
Minor level - 108.60 *
Minor level - 107.03
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13
A retest of 106.26 would not be out of the question.
XLE:
Major level - 68.75
Major level - 65.63
Minor level - 64.84
Minor level - 63.28 *
Major level - 62.50
Minor level - 61.72
Major level - 59.38
Minor level - 58.60
Major level - 56.25
65.63. is a key level for the XLE.? If it can close above it, the XLE may finally be bottoming.
Apple:
Major levels for Apple are 112.50, 106.25, 100, 93.75 and 87.50.
100 should be a major support level for Apple.?
Apple sold off the 112.50 level yesterday.? Look for a move lower.
Watch list:
Bullish Stocks:? POST, UBNT, EXPR, NCT
Bearish Stocks: IBM, WHR, TIF, WYNN, VRNT, EAT, SAVE, ADSK, GPRO, DFT, JOY,
Be sure to check earnings release dates.
