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? AAPL ? ? ? ? ? ? ? ? ? ? ? ?????????? 129.50 ?
LONG TAN????????????????????????????????????????? ? 48.95?????????? 48.35 Close
LONG QLD????????????????????????????????????????? 150.40???????
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Today's Working Orders
No working orders
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Stocks...
DAX...11,688 is mvg avg support and the must hold level on a closing basis to avoid a deeper correction.
ACT...is gaining upside momentum. Keep this teed up for an opening range trade today. You're looking for an upside move.
CBI...Ditto ...this is trying to break out above it's 200 DMA
Bonds ...
Bunds...159.00 is the qtrly pivot. A close under the 50 DMA @ 158.84 is needed to confirm lower. 159.85 is resistance,yesterday's breakdown level.
FBTP...the Italian technical formation looks vulnerable to a large break. price action over 140.00 is needed for higher. 138.40 loos to be the the closing level that would open the flood gates to a move down (higher yields)
FX...
EUR/JPY...Put in an ORH day. 128.80 needs to hold on a retest for a higher cross with an eventual test of the 50 DMA @ 130.78.
CAD/JPY...99.14 is the 50 % retrace and major resistance the first time up.
Oil would have to be running the pattern buy stops above 58.63 to get to this level.
GBP/USD...held important mvg avg support last night and is moving higher. This currency has the most room from a technical viewpoint to rally on it's own and against the Yen.
Commodities...
GOLD...needs above 1204 resistance to have any upside materialize.
Resting sell stops @ 1179 need to be elected for downside.
General Comments or Valuable Insight
I got stopped out of the Yen late yesterday. I still want to be short Yen via one of the crosses before the BOJ meeting next Thursday.
Treat every instrument on it's own merits.
Kite had almost an 8% move from support straight into resistance and it's exit zone in six and half hours.
When you hit these one day wonders in the names you must check out of a good piece of it.
Chicago Bridge
ACTAVIS ??
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.