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
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working Orders
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Stocks...
Spu's...1807 is the 50 day mvg avg. it will be pivotal all day. (firm above/weak below)
Bonds...
30 yr. Bonds...132.28-30 is resistance .
FX...
EUR/AUD...153 +- a few is resistance.
AUD/USD...89.10-88.75 is support.
USD/JPY...101.50-70 is Dollar support..Yen resistance (98.30-50 futures)
Commodities...
Oil... 99.55 is support and the downside closing pivot.
General Comments or Valuable Insight
Emerging market currencies are all on the defensive this a.m. which is negative U.S. equities.
Spu/Bonds hit the 2/3rds resistance coming back up on the year late yesterday. (a cautionary level for upside follow through).
Nasd 100 has a potential double top @ 3630 + a few depending upon which chart you look at (Pit only or all session) another big red flag.
GS,AAPL and a myriad of other bell weather equities had all come into resistance zones.
Full Moon Trading...here we come.
After the mid week high yesterday it's all about how and where the breaks hold over the next couple of days to avoid another swan dive.
The 30 yr. Bonds are key. 133.00 is pivotal for the spread.
The day should be a time frame opening range trade.
If you have a specific market bias you have your risk parameters.
I.E. Equity Bulls would be best served by selling the Bonds with a few ticks stop.
I'm going to let the board gestate for a bit.
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 are neutral Equities at these levels.
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