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
APPL Long????????????? ? ?? ????? 520.70????????????????????? 518 ?????????????????????600
SSO Long?????????????????? ? ? ?? ? 98 ?????????????????????????????????????? ? ? ? ? ? ? ? 104
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No working orders
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Stocks..
Spu's...a close below 1800 is needed for any real profit taking to ensue.
SSO...98 lines up fairly well with the S&P 500 level.
Nasd 100...would need a close below 3485 to do any damage to the trend.
Nikkei Futures... Buy breaks to 15,500 with a 300 point closing stop.
Bonds...
30 yr... needs all new weakness under 127.29 for lower or over 131.00 for any real upside.
FX...
USD/JPY...we expect to see the Yen trade 106.80-107.30 should trade in the near future. (App 93.65 Futures)
Commodities...
Gold... can see profit taking above 1220, which will also act as the near term upside pivot. Macro sell stops are below 1180.
Oil...Friday's high of 100.75 looks to be pretty good off the wave counts, however with year end markings it could run to 102.00-102.50.
We saw a pretty big overrun ( exaggerated move) in the Euro & Swiss last week. Moves like this are not out of the question in thin markets.
General Comments or Valuable Insight
Spu's...achieved our initial swing count of 1840. So yes, we took some money off the table to stay disciplined with our tgt work.
Today is a good day for reflection on how you wish to be positioned going into 2014.
Commodities, Interest Rate & Currency Futures close at Noon CDT tomorrow and reopen at 5:00 A.M. Thursday January 2.
Equity Indices close at the normal time Tuesday and reopen with Globex early Chicago on the 2nd.
January employment data is released on Friday 1/10/14.
What does this mean?
It means the Asian's will get to lead off on the world Wednesday with Globex closed.
If you have a desire to be in a particular instrument before everyone else decides to put money to work on Thursday going into the following Monday, you'd best do it beforehand or risk chasing into the first full week of the trading year.
Markets will remain extremely thin!
Instruments tend to travel in the direction they've been moving into year end.
This is exactly what they are doing!
Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We're looking for the Equity Indices to rally through the first week of the year.
For Glossary of terms and abbreviations click here.