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 ?????????????? 504.75???????? 498.20??????? 538
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Stocks..
Nasd 100...3085 needs to hold on a closing basis.
JJG...49.90 is resistance with all new closing strength needed over 50.20 for more up.
Bonds...
30 yr....132.25 is resistance and should reject the first time up. 133.25-30 is the lowest risk sell zone.
FX...
AUD/USD...89.30 has the potential to hold.
AUD/JPY...87.38 is the matching level in the cross
EUR/JPY...130.25 is close support. 129.60 is the next level.
EUR/AUD...149.96 should be monitored for a possible double top.
USD/JPY...97.65 ( app 102.40 Futures) needs to hold on a closing basis for the Yen rally to stall out.
Commodities...
Grains...The bulk of this move looks over.
OIL....macro Buy stops are 109.35.
Brent...113.12 is resistance and the upside closing pivot.
General Comments or Valuable Insight
Vix...put in an ORH day yesterday. Sustaining over 15.40 in the cash could lead to another dollar. 14.60 is support and the downside pivot.
Nothing like a good war to roil the markets.
Let the board set up early. Yes, just watch your time frames again today.
The Bots are either on a buy or a sell making trading very difficult. Trade the flows and take what you can get. Gains can be fleeting.
Gold should rally into the 1430's and Silver close to 24.80 with a war board. Oil needs a little higher to elect resting buy stops. Be very careful selling Oil with talk of military strikes going on in the Mid-East.
The entire day will be a news driven on light volume.
Short Term View...
Trade instruments off their own technical s
Time Frame Trading.
For Glossary of terms and abbreviations click here.