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
Total Premium collected - $1.95
Short Jan 8th-$21 Call - $.40
NCR Long Jan 16 $27 Call
Net Debit - $.80
X Long at $14
Total Premium collected - $.89
ASNA Long at $14.20
Total Premium collected - $.75
ETE Long $14.05
Total Premium collected - $1.05
Short Jan 8th-$13.75 Call
P Long $13.38
Short Jan $14 Call - $.35
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Yesterday ended with a 21.86 point rally in the S & P 500,?which closed at 2,078.36.
The low was just above the major 2,062.50 support level.?Today is key because if the S & P can close above?2,070.33, the objective becomes 2,093.80.
The DOW and the NASD also followed suit and closed to?the upside yesterday.
With only two trading days left in 2015, it will be interesting?to see where the S & P 500 settles for the year.
The S & P opened the year at 2,058.90 and as of yesterday,?was about 20 points above the open.
Tomorrow is a full trading day, with all markets closed on?Friday.
Here are the key levels for the markets.
?
VIX:?
Major level - 25.00
Minor level - 23.44
Minor level - 20.31
Major level - 18.75
Minor level - 17.19
Minor level - 14.06
Major level - 12.50
The VIX closed under 17.19 yesterday, so the?objective should be back to 12.50.
Yesterday's low was exactly 15.63, which has?been a major support level.
Resistance should still 17.19.
S & P 500 Cash Index:?
Minor level - 2,101.16
Major level - 2,093.80
Minor level - 2,085.98
Minor level - 2,070.33
Major level - 2,062.50
Minor level - 2,054.68
Minor level - 2,039.10
Major level - 2,031.30
The S & P closed just above the minor resistance?level of 2,078.10.
A close today above 2,070.33 and the objective?should be back to 2,093.80.
Support at 2,070.
Nasd 100 (QQQ):?
Major level - 115.63
Minor level - 114.85
Minor level - 113.28 *
Major level - 112.50
Minor level - 111.72
Minor level - 110.16
Major level - 109.38
Minor level - 108.60
Minor level - 107.03
Major level - 106.25
A close today above 113.28 and the objective should?be 115.63.
Yesterday's low was 8 cents above the minor resistance ?level of 114.06.
Look for lower levels to be support.
TLT:?
Major level - 125
Minor level - 124.22
Minor level - 122.66
Major level - 121.88
Minor level - 121.09
Minor level - 119.53 *
Major level - 118.75
Minor level - 117.97
Minor level - 116.40
Major level - 115.62
Minor support should be at 119.53.? A close?today under 121.09 and the objective should?be to 118.75.
GLD:
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13
Minor level - 102.34 *
Minor level - 100.78
Major level - 100.00
Major level - 96.88
The GLD continues to trade between 100 and 103.?The 60 minute chart has moved into an uptrend.
101.56 should be minor support.? A retest of the?100 level would not be out of the question.
XLE:
Minor level - 63.28
Major level - 62.50 *
Minor level - 61.72
Minor level - 60.16
Major level - 59.38
Minor level - 58.60
Minor level - 57.03
Major level - 56.25
The XLE will need two closes above 63.28 to move?up.? 61.72 should be support.
The objective should be back to a retest of the 59.38?level.? Still needs more time before bottoming.
Apple:
Major levels for Apple are 125, 118.75, 112.50, 106.25, 100, and 93.75.?106 should be a major support level for Apple.?
Apple tested the 106.25 level yesterday.? A close today above 107.81?and the objective is back to 112.50.? Today is the 8th day of?consolidation.? A breakout here and it could be a fast move.
Watch list:
Bullish Stocks: PNRA, NOC, CI, KMB, ACE, ADBE, DPS, PM,?QIHU, BRCM, ALTR, CCL, TSN, DAL, RAI
Bearish Stocks: CMG, COO, RH, PVH, ODFL, JWN, WSM, DECK,?OUTR, WNR, HIBB, BKE, NTAP, SWFT
Be sure to check earnings release dates.
